You must be a member of the Administrators group on the local computer to access the IIS metabase. Therefore, you cannot ...

You must be a member of the Administrators group on the local computer to access the IIS metabase. Therefore, you cannot create or open a local IIS Web site. If you have Read, Write, and Modify permissions for the folder where the files are located, you can create a file system Web site that points to the folder in order to edit the files.