go for high ram dedicated server, and that script is nice , for start.

Moreover, you need to buy a domain name and all its variants (.com+.net +org+biz etc).

Netherlands is a good enough place (ecatel datacenter). Sweden,China, Singapore,India,Russia are even better. Register your business in Panama if possible.

for payment, dont use paypal, they might close/suspend you account as they did with several file hostings. Payza , pioneer etc are better.

For the 1st month, donot limit bandwidth for free users, it will help make your site popular early on.

create a support team, mention a clear DMCA and talk about it with your datacenter.

for dedicated server, talk directly to sales representative of webhosting providers.

I am currently doing colocation for my servers in Netherlands, and would advise you do the same, as it would drastically reduce your cost in long term.

Also be careful about malware etc. getting your site blacklisted will ruin your reputation.