nginx tips for localhost development

[Ian M. Evans]

As I'm about to launch some major additions to my site (and launch another
site) I've been starting to get my act together in regards to development,
e.g. finally starting to use git, getting ready for a responsive redesign,
etc.

I've realized that it would probably be wise to develop locally by running
a localhost server in a linux VM on my laptop and desktop.

Can anyone give me any tips (or point me to a tutorial/article) that would
show me how to set up nginx for localhost testing? Is it possible for me
to create a setup in nginx so both www.example.com and
www.mynewsiteexample.com would be served by the localhost nginx?

Thanks for any advice!