When setting up this blog, I realized that there were quite a few steps to setting up your own hosted WordPress installation. So I wrote down all the steps I took and will share them with you here. This tutorial goes through the whole pipeline, which is quite lengthy, so it will be broken up into four sections.
My only assumptions are that you have picked a domain name and have root access to a server running CentOS 6. The former is a much blogged about topic and the latter is covered here: Getting Started with Linode. This guide is targeted towards Linode users but in theory you should be able to use another host and still follow along.