As for using a cordless drill - NO! First they usually don't have the speed to do the jod. Then you sould need to put an adaptor on the shaft to properly drive the spinner/prop/hub of choice safely. Then when you get frustrated and throw it at the plane it gets real expensive.

The cost of modifying a drill exceeds buying a purpose built unit from a LHS or mail order store. Additionally one should be able to borrow one at the field occasionally once you join a club.