The requirement is that each ip address appears only once on the network. There are some additional requirements about being in the right subnet, and you can fool things with NAT and such, but basically that's it.
So if you are not connected to any other network, there is no (techical) limitation on which ip-address you use.
Like you said, that doesn't mean it is a good idea to do so.
Groetjes,
Kees-Jan
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