1u Rack Server

My roommate and I want to buy a server and I noticed that a cost-effective to buy a 1U server rack (not a blade of course) for independent use as a server-type computers. Would this work? Would we need extra cooling?

Almost all the PC hardware can operate as a server. Some systems are optimized for it (eg Xeon processors), but good old desktop style work very well. Microsoft Server software is often more expensive than hardware, which explains why students like Linux.

There is nothing wrong with using a rack, without support. You may have to raise to provide adequate ventilation - check the shape of the airflow.

Yes, but make sure there are no vents on the bottom of the server. Unless the room is very hot, it should be fine. Note that the servers are very strong.