When will we be able to run Factom servers and what are the server requirements?
good question

We are currently working on our Milestone #2 which will introduce our consensus mechanism to the Factom network. So we will have some test Federated Servers running for that, however managed by Factom.
After milestone #3 is complete, with the full network up and running, everyone will be able to setup a Federated Server and users of the network will be able to vote and elect them.
That is also when Federated Servers will start receiving rewards in factoids for their help supporting the network. Until then no more factoids will be generated.
You can currently run a test Factom server using our Sandbox below, we have various options there but not a Federated Server yet.
https://github.com/FactomProject/FactomDocs/blob/master/developerSandboxSetup.md