If you are going to host a server, you must have a 'business account' with your network provider, plus a static IP adress.
The spec of the machine doesn't have to be high either, just got to have good access rates to the hard drive, and for security, you might want to look at a fully sorted RAID unit, so if one drive goes down, the other drive has the same data.
The power consumption isn't a lot realy, just knock the monitor off and have audible warnings if there are problems, no fancy graphics card, no fancy sound card.
The other consideration is you got to have good upload speeds otherwise your sites will be dog slow. You could build two comps, one to cater for MySQL and the other to cater for PHP.
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