LOL_REKTWouldn't see why not. If the orientation LEDS aren't bright enough ebay has a good selection of LEDS and buck converters to add more. I think I will just for the fun of it.
LOL_REKTI would recommend you get something other than a racer for non-fpv. They might seem decent sized in your hand, but not so much 50 meters away. If you watch the numerous videos on YouTube, they're so fast you can hardly keep track of them, let alone its orientation. Racers are designed to be flown with the goggles. You could use a screen, but less immersive. Massdrop had the Hubsan H501S X4 FPV 1080p Drone on here recently, and those are great trainers for beginners to the hobby; with GPS, and a screen on the controller. Takes great photos, and decent video. But without gimbals, you're not going to get smooth cinematic videos. This is definitely a hobby where you want to learn from other's mistakes.