Yes, it will work just fine. But anytime you want to make the slightest change. Your going to have to do it from the command line. Even a simple task such as changing a users password. Its all going to have to be done from the command line.
I am not trying to discourage you in any way. But rather give you the information you need to succeed. Why there are a few servers that don't not run a control panel. I would guess that 99% of the co-located/dedicated servers are running some forum of a control panel. If you do not want to spend the money on a control panel. Webmin
www.webmin.com is free. Control panel or no control panel, we are here to help you anyway we can.