If you decide to use it as a single speed only then it is very easy and very cheap. Any cassette hub with a cog and spacers will remove most of your headaches. They are cheap and take care of the chainline issue so you can use any crank of your choice. You can try to get the magic gear for fixed riding but may have to settle for whatever gain ratio that setup provides. Though you can probably get it pretty close- especially with half links.
Also as you put miles on the bike and you get chain stretch, the lack of a tensioner may become an issue.
Pluses and minuses.