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I did something like and even managed to give the internet access to the server (which I wasn't supposed to do). Here are a few things to keep in mind:
1. Does your TOS with your ISP forbid you from running servers?
2. Is your server secure and will it meet your needs?
3. This one needs special attention... Is the server using IIS? If so, is it using IIS's lockdown tool? Are parent paths disabled?