I do not have any real experience with setting up a network to be secure against a focused attack, or as a server so I'm not sure how to really factor the pros and cons of running a masternode at home vs renting a VPS monthly.
It's essentially typing in a handful of commands. A guide can be found on the BitSend forum.
What are the storage size needs for running a masternode?
Less than 1 GB.
What amount of bandwidth and network traffic would be needed?
I don't know the exact amount, but it is negligible.
I'm trying to figure out how expensive of a service would be needed if I rented it. Thanks!

A ~3$ VPS will do.
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