System requirements are a webserver with PHP and a SQL database. Pretty much any server will do for a smaller site - don't worry about the CPU/memory specs. You'll need maybe 15MB of disk space at most, and about 25MB of database space.

The actual installation is not hard if you have shell access to the webserver. If you don't have shell access (FTP only), it's slightly more difficult, but still not a problem.

Once you get the software installed, all of the setup, configuration, customization, management, etc., can be done from the web. There are a zillion different options and toggles, so it might take a while to play with them and configure your board the way you like it.