2012 Hyper-V Server Home Lab

I want to create a Hyper-V server for my lab at home.  It does not have to be a 2012 version.  What are the spec requirements (cpu, hard-drive, etc...) for a decent server?  I want to be able to create a mixture of 5-10 servers and clients.  Also, I would appreciate suggestions on where to buy a used server to meet my objective and approximately what it would cost?

I briefly looked at train signals video on setting up a Hyper-V lab at home and it mentioned he had 2 servers.  Will I need two servers to accomplish my goal?
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Svet PaperovIT ManagerCommented:
You don’t need to buy a server to set up a lab at home. Windows Server 2008 or 2012 can be installed on any recent PC with 1.4GHz or more 64-bit processor (preferably not a laptop because of some driver issues). http://technet.microsoft.com/en-us/library/jj134246.aspx 

The most important component is the RAM because it will limit how many virtual machines you could run simultaneously. RAM cannot be shared between running virtual machines.

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