Yeah.
The advantage of using smartphones is that everyone has one. If you forget to charge or bring your FPV screen then tough titties.
Make sure you get one with an in built receiver and battery like the Flysight 32ch.
On a side note.. I have a Phantom 2 that does what you wanted.
Its a Phantom 2 Vision Plus tricked out with a H33d and gopro. It uses the DJI vision app with any smart phone for FPV and has 2 ways communication for Ground Station and dynamic home point. I sold the P2 Vision Plus 3 axis camera and gimbal and it covered the cost of the H33D. The telemetry and FPV was already built into the app. I simply gave it new "eyes" - the Hero3+BE and this gave me the benefit of using the GoPro in the sky or detach to use on the ground. It was more beneficial at that time. But now, considering how cheap the P3 are, its best to have P3 for aerial and a GoPro for the rough terrain.