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One baby or toddler. Sure.
Two? Need at least a proper bedroom.
We used futons for 2 years. Turns out it was great for my back. Packed away and I'd study with office space on the floor with one of these:
[Laptop Desk Bed Table Tray, Lap Desk Bed Table for Breakfast Serving Tray, Notebook Table with Tablet Slots and Cup Holder for Couch Floor for Adults/Students/Kids https://www.amazon.com.au/dp/B083R6W5CF/ref=cm_sw_r_apan_i_KHCJ21EF4ZNRWWQZP8VZ?_encoding=UTF8&psc=1]