To manage it from your home, you'd either have to do Remote Assistance (
Remote Assistance - Wikipedia, the free encyclopedia) or you'd probably (not sure about this one but this is how most server providers work) have to set it up over FTP. I'm not sure how to set it up over FTP and I'm kind of in a hurry at the moment (I have to go) so you'd have to research that on your own. Just google "FTP" and start from there. This is really something you won't be able to do anyway without a host (1and1.com are really good). So, if you can't purchase hosting, I'd stick to Remote Assistance if I were you.
Regarding blocking other regions from entering your server, I know there's a way to do it 'cause I've been blocked off a few Australian servers so there must be a command or something. Unfortunately, I don't know how to do it so you'll have to wait for someone else to reply who might know.