I don't know what the technical term for this is, but at my workplace every computer has a mapped network drive which lets me access all files on the server which I believe is located in the same building.
I am able to make edits to any file on the server and the changes will be instant. For example I can open up a text file located on the server in a text editor, and when I hit save the changes are live on the server. No need to transfer the new file onto the server via FTP or something.
The live file editing is what I hope to achieve with the webhost of my personal website, if this is even possible. Right now I have to use FTP to make changes to the live site.
I'm using Vista Home Basic.