It would be much easier for you to use Hyper-V if you switch from Windows 7 to Windows Server 2008. If you are willing to use VMware then check following URL. However, personally I would recommend Hyper-V.
- Also check: http://technet.microsoft.com/en-us/magazine/dd744752.aspx
This will help you to install Hyper-V on Windows Server 2008.