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YOu have to have a dedicated IP or use a special internet service to allow you to do DNS lookup to a roaming IP.
You need to install a webserver like apache or IIS. Then you need to install any accessory programs like php, mysql, etc.
You can do other things on the pC while its serving up pages but note your sharing your internet connection with your websites traffic. If your doanloading something then your web server will probably be slow to upload pages and requested files. Most home networks have very slow uploads to begin with so homeservers are only good for low traffic sites as a high traffic site can get busy and saturate your home networks upload speed.
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