YUM is the package management tool of choice for Fedora Core, it doesn't have some of the features of "apt". But seems to be more compatible with rpms, and is much easier to use ... esp. for creating repositories.
You can create a YUM repository by installing the yum and createrepo packages. The just collect or link to some RPMs in a directory and run...
createrepo ....at which point the URL to the directory you are in can be given out as a "baseurl" in the yum.conf file.
And.org provides three yum repositories for Fedora Core...
[and.org james] name=And.org baseurl=http://www.and.org/yum/fc$releasever-$basearch-james enabled=1 gpgcheck=0 [and.org misc] name=And.org baseurl=http://www.and.org/yum/fc$releasever-$basearch-misc enabled=1 gpgcheck=0 [and.org OS updates] name=And.org baseurl=http://www.and.org/yum/fc$releasever-$basearch-updates enabled=1 gpgcheck=0
"misc" are packages that aren't in fedora core.
"OS updates" are updates to fedora core packages.
"james" are packages for code that I've written (currently none of these are in Fedora).