It seems completely feasible to have two gaming VMs coexist with some run-of-the-mill Home Lab stuff along with maybe a couple of other lightly used VMs. The idea is to use some low-cost KVM technology to connect the hardware (USB, GPU output, etc.) in the server to a mouse, keyboard, headset and monitor at the kid’s desks. I found fiber and ethernet variations that look like they could work (and some YouTube videos that proved it could be done).
Besides the previously mentioned benefits, I also crunched the numbers and determined that a central server would be cheaper than having 2 -3 gaming PCs and a separate Home Lab box. At this point I had settled on using the free version of VMWare ESXi 7 (vSphere) on a Dell PowerEdge T640. Configured properly, it could run 4 GPUs. I can’t think of any scenario where we’d be running any more than 4 GPUs at a time.
My experience with VMWare ESXi, any Dell servers and GPUs is non-existent. What could possibly go wrong?