Yes and no. Yes it's possible, but no you're not going to do it without spending an arm and a leg if you want to do it with Windows. Now if you wanted to use Linux or one of the BSDs, then we could talk about doing it on a budget, but I'm going to go out on a limb and assume you were looking for a Windows solution. It exists, but it will cost you far more than it's worth for a home setup.
Can one computer on a network use another's (on the same home network) resources to execute a program or service?