Creating holes (opacity) on certain areas


Im in need of some advice or rather information if something I’m picturing is possible to create.
I would like to create “holes” with an opacity texture/decal, that makes meshes see-through spots.

Basically bulletholes.

At the moment I am not worried about the backfaceing issue that it would present, when looking into one of these holes, but, Is this even something that would be possible doing?

Simply put, I shoot a wall, the hit now shows a hole, making me able to look to the other side.