Hello Rafi,
That is just fine. There is no reason why you cannot install on your own computer. There are certain options that you will not want to enable (ie: if you have LabVIEW already on that computer, do not install support for the LabVIEW Run-time Engine). But in general, there is no problem with creating an installer and installing on the same computer.
If you are asking how to create a deployment system, the best place to start looking is the TestStand Reference Manual. Chapter 14 exclusively discusses this topic in great detail.
Regards,
Aaron B.
National Instruments