

I tried self hosting from my apartment for several years. Never anything ambitious, but even so, keeping the site reachable consistently was a problem. It’s not impossible. You would need a dynamic DNS service. Some are free. Even with everything set up correctly, expect done downtime. I eventually switched to a virtual server, so I’m paying $7.50/month for 1 GB RAM, 1 TB bandwidth and 120 GB disk space. Reachable all the time with no issues now, though.
I’ve only ever seen the term used to refer to the bags people prepare in advance for emergencies.