P2V using system image backup from Windows Server Essentials on the same hardware

Hi,

I have the requirement to move a newly built physical Windows Server Essentials install, to a guest on the same server after installing Server 2012 and Hyper-V onto the original hardware. Can I use the system image backup to do it?

My thoughts are to backup the original server, wipe it, install the 2012 Server, install Hyper-V, create a new virtual guest, then restore the backup to the virtual guest. Any pointers or documents would be greatly appreciated.

FergusMc