home server for practising, possible?

i am trying to get a home server for practising as well as in deep learning, i have bought the control panel, got a good computer, but i am not sure whether it's possible to run a server with control panel at home. the control panel i'm going to install will request these info:

hostname.
IP address
NetMask IP
Gateway IP
DNS IP

how should i fill up these info if the server is at home?can i set it as

hostname --- localhost.localdomain.com
IP address --- 127.0.0.1
NetMask IP --- 255.255.255.0
Gateway IP --- no idea
DNS IP --- also no idea

Any tips is much appriciated.
i try to avoid the cost to rent a real server at datacenter, because i suppose i will take at least 10 mth to 15 mth to learn to be like an administrator, especially in term of technical. home server for practising, possible?

thanks in advance.

 

 

 

 

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