Sure you can. But, you better know what you are doing. Just installing an autoresponder script is going to always end in a nightmare.
You need to learn how to warm IPs, manage reputation with all the major ISPs. Learn how to properly use SMTP services and juggle them to keep bounce rates and spam complaints below termination thresholds. You also need to learn how to manage your server, do backups, troubleshoot problems, install script updates. And a ton more stuff.
If you are just starting out, just go with an autoresponder service. If your list is large, then it is time to consider moving to self-hosted.
