Home Lab Ideas

I plan on setting up a home lab. What I want to do is practice with 2012 server and setup a few VM's to join the domain.

Can I install ESXI on blank hard drives?

Would I then install VMWare Workstation 10 on top of that? To create the VM's

What I thought I needed to do is:

Buy server

Install Win 7

Install VMWare Workstation 10

Create VM's

Does ESXI get installed after the OS or before.

Do you need ESXI if using VMWare workstation 10?

I am trying to get out of buying 2012 server outright. I was planning on using the trial.

As you can tell I need help. Open to advice.

Thanks