Hi Adam, there aren't any absolute hardware requirements for Friendica. I can tell you that I'm running a single-user Friendica node on a quadcore 8GB RAM server alongside multiple other websites. The main resource requirement is disk space for the database that can grow very large even with a single user. Beyond that, it's a matter of page serving speed. More RAM means that database queries can go faster, speeding up page load, more CPU allows more parallel worker tasks, speeding up message delivery, a faster disk improves performance overall.But no hardware will actually prevent Friendica from running aside your own impatience regarding page loading times.
So I'd suggest you try, Friendica is relatively easy to install, especially if you've installed PHP websites before (like WordPress for example), and get a feel for it. Do you have a domain you could use for it?