Making your own web host, efficient or not?

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Okay, so here's the deal. I have started getting into the "own your own web host" thing. I have attempted to host one on Linux and it is just rough for me, as I am a complete newbie to Linux and how it works. More or less I am wondering if it is worth it to learn how to host my own site, rather than just getting a VPS or something? For my goal, I am wanting to get a dedicated server(colocated) but am not sure if I will be able to do all of the upkeep on it in terms of software and setting everything up right. The reason I am wanting it is to host games, voice programs(like teamspeak/vent), websites, forums, etc. Does anyone have any sort of input they can give regarding it? I have read many tutorials but all of them seem pretty out of date, and so when I follow them it always leaves me out in the dust. I am very into the whole colocation thing but I will need to be able to set up a server locally if I ever plan on successfully doing it remotely. Thanks in advance, all.