There is a colo in Boulder that will host a Mac mini server for around $75/mo (negotiable). I haven't tried it yet, but I'd imagine that I could get 3-5 'servers' off of eBay and negotiate a nice monthly rate for hosting them.
I rather like having a modest collection of hardware that I can call my own. That aside though, is it possible to get a dedicated server with SSD-like disk IO and 8-16 GB of memory for ~75 dollars a month? I admit that I only have experience with Rackspace, and that a few years ago, but it seemed like the pricing was more than twice that.