Of course it can work that way. Just be sure of your wiring. Or are you using DCC?
Around here NS just took out one track of a two track main line and installed a switch outside the local yard where the two mainline tracks now converge to one single lane mainline.
Why they did is a mystery as they just last year and 2 years ago Upgraded both tracks of the mainline, only to rip out the one track for a single mainline!
So there is a prototype for it, at least around here anyway.
Turnouts have to face either way. Think of a passing siding? Two tracks going back into one. As mentioned before. Have your polarity correct +to+ and -to - and you’ll be happy forever.
I have a large number of insulfrog switches, and also a large number of electro frogs. The electro frogs are no problem as long as you gap in the correct places which is fully explained in the instructions that come with them. I also have several handlaid handmade switches that I did for the NMRA achievement program and they are much like the electro frogs. Don’t be afraid of cutting gaps.