Single Server Built-in Database Installation

Finally, I was able to install a Sharepoint 2013 framework. I have documented the steps and errors I had received and steps to resolve those issues.

Environment:
Created a VM instance using VM Player 5.0.1 build-894247 with following hardware configuration
RAM : 3.5 GB
Maximum harddisk size : 80GB (stored in multiple files)
OS Type : Windows 2008

Installed following components in sequence

1. Windows 2008 R2
2. Install Service Pack 1 (KB976932)
3. Install Sharepoint Software Prerequisites
1. Launch sharepoint installer

2. Select "Install software prerequisites"



3. Review the list of components to be installed and click "Next"

4. Accept the license agreement and click Next

5. Review components intallation status and click finish.



4. Install HotFixes/updates
1. KB-2554876
2. KB-2708075
3. KB-2759112
5. Install Sharepoint 2013
1. Launch installer
2. Select "Install Sharepoint Server"

3. Enter product key
4. Accept the terms of agreement


5. Select Stand-alone option

6. Complete the installation

7. Close installation program

6.    Launch Configuration wizard

1. Start --> Program files -> Microsoft Sharepoint 2013 Products --> Sharepoint 2013 Products Configuration Wizard
2. Click Next on Welcome screen
3. Click YES when prompted to stop services
4. Complete the configuration wizard.

Installation of Sharepoint should be complete.  You can launch the Sharepoint Central Administration from Start programs to confirm successfull installation of Sharepoint.