Can Plex Cloud be configured to use a NAS, or does the media need to be stored on the cloud drive?

I’m still researching and haven’t purchased my NAS yet. Just wondering if I can store my media locally on my NAS but run the server on the cloud.

I’m leaning towards using Plex with HDHomeRun Connect and Plex DVR / HDHomeRunDVR.

Also, if Plex DVR and Cloud are still in Beta is there a target date for release?

Thanks.