freebsd update question

[Jason]

Hi,

I have just started getting into the realm of kernel building, and I have a
question in so far as upgrades.

Is it possible to do a freebsd-update fetch then install, reboot, and then
install again to get to the latest release you want to run?

Update /usr/src with sources and build a kernel from that, and use that
kernel.

After this, assuming this is the correct path, can the same path be used to
upgrade other servers, and then just plop the kernel on (same hardware.)

I am not sure if this is the right path, but looking to understand it a
little better.

Thanks!