SCVMM upgrade scenario

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http://serverfault.com – I've read some information on TechNet about upgrading SCVMM 2008 -> 2012 but can't quite figure out the best way to approach this. The current setup is that we've got SCVMM 2008 R2 installed but against best practice it was actually installed on the Hyper-V host machine since its a small scale deployment its just a single server setup with SCVMM existing on the same host rather than be in a VM. So from what I've read an in-place should be possible which will incur a restart but also don't have the luxury of another server to shift the VMs onto whilst doing this or want to risk anything happe (HowTos)