When you set up the server install the dhcpd package (this is the DHCP server software). Configuration is pretty simple if you read the man page/google a bit. I got my set up here up and running ...

These outlined instructions will help you put together a Raspberry Pi web server that will allow you to be more efficient in a variety of use cases.

I've got rh installed on the server-to-be, found a couple how-tos, etc. My question is: can I set everything up and have this random dhcp server running on the network without any ill effects?