OS X Server running on a Mac used for daily work -- possible? Issues?
I have been running OS X Server on my desktop since 10.6. Zero issues, and zero impact on the current user ( I use the same machine as my primary computer). I run Web, DHCP, DNS, Calendar, Contacts, File Sharing, Time Machine and VPN. No significant CPU or memory issues.

Some things to mind though:


Don't turn it off, and don't let it sleep. My desktop is on 24/7 except for software-update reboots.
The server needs a fixed IP address. This doesn't mean that your house needs a fixed IP address from your provider, but you do have to set the server's IP address on the subnet.
if you want to run all those local services you will need to understand DNS. Hope you like reading, I recommend the O'Reilly books, which are now available in electronic form so you don't also need steel shelves to hold them.