@feditips sure, but my advice to fellow noobs is, "Don't do it!"
I did it. It was easy. It was affordable. It felt so cool to have my own server/domain. Then I discovered that the amount of content I could see from other servers was almost non-existent.
Apparently, the number of users in an instance has some kind of network effect that I don't fully understand. As a brand new instance with one user, I only saw content directly from people I followed. Most of the other content I was used to seeing on my previous large public server just vanished.
Related to this is some kind of arcane technical limitation that means long threads appear completely different to different people. Say a thread has 40 replies... I only see a percentage of them based on... I don't know but it has something to do with my instance and the number of users on it? I can't grok this place and I'm a web developer, former sysadmin, and used to run a Fidonet BBS (meaning I been online a long time).