Oh yeah, if you don't mind reflashing the Amiibo files every now and then, you should be fine.
Actually, I am pretty sure you can buy the N2Elite NTAG Emulator module separate, so if you have an NFC android device, you don't have to spend all that money on the NFC device and the NTAG Emulation device.
I think the NTAG Emulator module is about $52 (USD). Which isn't bad at all, and I think you can still use the N2 app for it.
At first the $52 is a little pricey. But in the long run it will pay for itself. Because Amiibos range from about $12 up to about $40 each I think, and some Amiibos are even more I believe. And not to mention buying the blank NTAG's. I'm in the USA, so it's very hard to find the NTAG215 in bulk for cheap. I found a set of 10 blanks for about $5 plus $7 for standard shipping.
So in my situation the N2Elite Emulation module would turn out to be cheaper in the long run.
But that's just my opinion. There are more options out there that may be better for other people too. Actually I think I remember reading about another Amiibo Emulation Device, that does the same thing as the N2Elite, but cheaper. I forget where I seen it though. I'll have to search around Google again.