You will lose the initial village, as it will be retained by the castle/city holding it. Of course, maybe can even start with 3 or more castles depending on how long you were a aligned with the king. This is because you can do this and potentially start the kingdom with 1 village and two castles first given fief, first castle granted after you won it, and then second castle obtained when as a result of rebelling. From what I understand, the best (easiest) way to start one's own kingdom is to rebel against a king after the king refuses to grant a fief.
