Aside from the technical details of running a fediverse instance, I think you should also be aware of the legal implications. For example, in your region, what is your obligation to actively moderate and delete illegal content (for example CP added by a troll or bot). Can you get in trouble even if you didn’t see it was there, but it’s on your server? How quickly do you need to react and how thoroughly must it be deleted?

If it was me, I’d also make sure I understand how this intersects with federation, and whether or not this could copy illegal content from other instances into my instance’s database.

Of course we’re all communists here, and you may have your own opinion and risks what you feel comfortable hosting, but it’s worth thinking through.