Yes, you can do that. If you feel comfortable installing a web server, and managing security and backups of the server. There will be no one to step in and help you if you mis-click and delete all your data, ban yourself with a firewall, or get hacked. As long as you're comfortable with that scenario, then go for it.
Having no experience doing so how hard is that to accomplish. I am a quick learner and can certainly follow a tutorial. Are there perhaps packages which simplify this process? You make it sound rather daunting.