Yes, you can. No issues whatsoever.
As to problems/advantages/disadvantages...
1. Complexity. It is one more thing to go wrong. No, I don't view this as a huge negative. My "serious" AR has a Vltor adjustable stock.
2. Aesthetics. There is no right or wrong, since we're not talking about Glocks (
).
3. Adjustable LOP. Huge advantage to the collapsible stock, unless you happen to fit the A1 or A2 perfectly, never loan your rifle to anyone, and always wear the same clothes to shoot.
4. Cheek weld. On most collapsible stocks, the cheek weld differs depending on how far in the stock is set. Minor drawback.
5. Balance. Entirely subjective, but the collapsible will balance differently. How differently depends upon which stocks are being compared.
6. Firmness/feel. Some people hate the wiggly feeling that most collapsible stocks give. Some don't mind it. Some stocks lock up rock solid.
Mike