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Security, bandwidth, speed, and stability are 4 issues your probably going to run into.
Security is major. If your running it from your home computer (the same computer you run all of your other software, and use daily), a single web server attack can result in a lot of sensitive information being stolen.
Most ISP's have a bandwidth limit, so that may limit the amount of traffic that your going to get. If you download a few movies, games, music, and browse, this further decreases the amount of available bandwidth.
A simple DSL connection may not support too many instantaneous visitors, without considerably slowing down the downloadrate of your website.
Lastly your ISP may not support a web server running on the default port 80, or a mail server, etc.
Purchasing webspace from a thirdparty company, may prove to save you much time and headaches. However, what you're planning to do is great for education purposes, and learning about th business.
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