Sure you can.
Anyway, I'm using a modified MicroUSB to USB adapter that has got 3 external custom connection pins, for making it to work as:
1. Normal MicroUSB to USB adapted (useless on our devices...)
2. MicroUSB to USB with OTG Host
3. MicroUSB to USB, Motorola Factory Cable (bootloader brick or NVFlash access on Tegra devices)

When in OTG Mode, its USB end is connected to a powered USB Hub (1.5A MAX) and all the devices are connected to the USB Hub.
Reboots are not necessary for USBOTG operation mode switching.