What you’re talking about is NAS, network attached storage, and it’s a great way to provide a centralized server for media files, backup, and so on. You can use a RAID based NAS, which means having duplicate data on multiple hard drives to prevent future data loss. There is also software available to automatically back up machines on the network. Remember your NAS is only as fast as your network. For best results use gigabit ethernet.
Automatically Back Up Certain Folders On My Network