I would like to use blender net render feature, but I know, that currently it does not support baking fluid simulations (see Blender Netrender Manual).
Is it possible to bake it locally and then use it in network rendering?
Yes, but all the networked machines will need access to the cache.
Another way to do a network render:
All machines need access to the blendfile and any external data (textures, fluid sim caches, etc.)
Make all the machines output the rendered images to a shared directory
Disable Overwrite in Render Settings > Output for all machines.
The Overwrite option will overwrite existing image files in the output directory. Disabling it causes blender to skip rendering the frame if a corresponding file already exists.
Enable Placeholders in Render settings > Output for all machines.
When rendering is started on a new frame, if the Placeholders option is enabled, blender will create an empty file where the final output image will be written after the render is complete.
Open the blendfile on the first machine and start the render
Open the blendfile on the second machine and start the render
Each machine will output images to the shared output directory and skip already rendered frames because Overwrite is disabled.
Placeholders is enabled so that machines will skip rendering frames that other machines are working on at the same time.