[Please add this to the appropriate Documentation heading and remove this part inside the brackets. TIA]

I found that it is much easier to use a free FTP client program such as FileZilla or Core to set to set file permissions for the /config and /files directories present after initial upload of concrete.

Before you start be sure you have done or can do these three things.
1.) download FileZilla, install it and connect to your site, navigate to the concrete installation folder.
2.) Setup your SQL database via your server. Remember to write down your SQL Server path, username/password and database name. If your install fails you'll need to remove and remake this database.
3.)Concrete 5 has been uploaded to your host or server. (sort of required to navigate to it.)

Now, to set permissions the easy way.
Once your inside FileZilla and you've navigated to your concrete 5 install directory.

1.)Simply right click the remote directory '/config' (lower right directory listing)

2.)left click file permissions

3.) set the needed permissions by typing the suggested numeric value into the numeric value text field (I used 777), which is the same as selecting all of the checkboxes. (read, write, execute for all 3 groups listed on the left)

4.)click the radio button for 'recurse sub-directories' and select the option to include files and directories (top option). *a radio button is the round check box of which only one may be selected from a grouping.

5.)Apply the permissions by pressing OK and wait for FileZilla to finish up (it will display "Status:Directory listing successful" in the upper text window).

6.)Repeat part 5 for the '/files' folder.

7.)perform the install from your concrete setup page. (you'll need the SQl server path, database name and username/password)

8.)Once the concrete installation has completed, AND you've verified that it is functioning, go back and set the permissions for the '/config' folder to 755 at minimum.

This is far far more convenient than trying to go through a hosts file or permissions manager. It will also save the hassle of server issued errors like
"500 internal server error." or
"The requested task could not be completed, the script did not output an error"
and Concrete 5 errors like
"Concrete must be installed into an empty Database, this database already contains 111 records."