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So first things first install server 2008 core (if you dont know how to do that then stop here ) One important note here is to make sure you use en-us language settings during the install. Hyper-V will not work correctly if you change the language (thank Micrsoft for this feature). Further down is information to change it back if you missed it.

1. Allow Remote MMC Administration:
   1. netsh advfirewall firewall set rule group=”Remote Administration” new enable=yes
   2. netsh advfirewall set currentprofile settings remotemanagement enable (if you join the pc to domain after this you will need to rerun it)
      
2. Allow Remote Desktop connections:
   1. cscript %windir%\system32\scregedit.wsf /ar 0 (take out ‘0′ add /v to view setting)
3. Allow Remote Desktop through the firewall:
   1. netsh advfirewall firewall set rule group=”Remote Desktop” new enable=yes
4. Set the IP address, netmask, and default gateway:
   1. netsh interface ipv4 show interfaces (this shows the interaces and the Idx numbers which is what we’ll use for the name in the next command)
   2. netsh interface ipv4 set address name=”Idx” source=static address=192.168.1.14 mask=255.255.255.0 gateway=192.168.1.2
5. Set the DNS Server address:
   1. netsh interface ipv4 add dnsserver name=2 address=192.168.1.254 index=1
6. Rename the Server:
   1. netdom renamecomputer WIN-IN8HIXT4938 /newname:SERV2K8HYPERV
7. Join the Server to the Domain:
   1. netdom join SERV2K8HYPERV /domain:domain.local /userd:DOMAIN\administrator /passwordd:* (yes thats a double ‘d’. make sure to reboot first if you changed the server name)
8. Install the Hyper-V role:
   1. ocsetup Microsoft-Hyper-V
9. Install the update for Hyper-V (trust me when I say to do this. I had nothing but issues till I installed it):
   1. http://support.microsoft.com/kb/950050
10. Configure the Server License and Activate:
    1. slmgr -dli (display license info)
    2. slmgr -ipk “SERIALKEY”
    3. slmgr -dli (check its applied correctly)
       
    4. slmgr -ato (activate)
11. Change the Language (If you missed my warning at the start):
    1. intl.cpl (language settings)
    2. In the Formats tab change the format to English (United States). Click Apply.
    3. In the Administrative tab click Change system locale, and set it to English (United States). Click Copy to reserved accounts”, Default and System. Then Apply.
    4. Reboot for the changes to take affect.
12. Allow WMI through the firewall:
    1. netsh advfirewall firewall set rule group=”Windows Management Instrumentation (WMI)” new enable=yes
13. Add the Remote Admin Users to the “Distributed COM Users” Group on the Server. From here on follow on from this awesome post here: http://blogs.technet.com/jhoward/archive/2008/04/01/part-4-domain-joined-environment-hyper-v-remote-management-you-do-not-have-the-requested-permission-to-complete-this-task-contact-the-administrator-of-the-authorization-policy-for-the-computer-computername.aspx

UPDATED: 

step 13 can now be cut down due to a new tool developed for seting up remote managment rather then following a lot of manual steps. For details see the blog post and link to the tool:

• http://blogs.technet.com/jhoward/archive/2008/11/14/configure-hyper-v-remote-management-in-seconds.aspx
• http://code.msdn.microsoft.com/HVRemote

References:

This posting is provided “AS IS” with no warranties, and confers no rights.

Blogged By Jason Neurohr

Microsoft, Server 2008 Hyper-V, Server 2008 Core