M4, I admin about 10 servers doing various and sundry things, and I've been doing it about 7 years for one place or another. One of the places I worked (hey, times were tight) was a small BS ISP that hosted servers like you're talking about. I've got a few items I'd like to pass on, but please understand I'm not trying to piss in your cheerios or attack your intelligence, perseverence, or ability. I've just "been there, done that". Your mileage may vary, use only as directed.
1) There is little chance you will be able to break even on such a venture. More likely, between bandwidth, hardware, and all the other crap, you'll end up in the hole. Competition is fierce, and a lot of it can guarantee a lot more than you will be able to.
2) You don't need a Dellpaq OptiStore 4,000,000.5 server box to "run a server". Some of my favorite websites are run from boxes that were designated webservers because they had outlived their useful life as desktops. (check www.attrition.org) Bandwidth is the most common bottleneck, and unless you're doing a lot of encrypted stuff, that extra processor and the 4 gigs of ram won't matter.
3) You don't want to learn to be an admin on your own machine. Sometimes, computer mistakes are expensive ;)
4) Backups are the most important maintinance item, vital in case of serious problems. They never work. (ok, they DO, but nothing beats the sinking feeling of having a dead hard drive AND a despooled backup tape)
5) You need a firm understanding of security before you start serving. It's amazing how slow a box can get when half of Taiwan is illicitly using it as a warez dropbox.
Whatever you decide to do, I wish you good luck with it. I personally find the challenge of such projects to be all the return I need, but I'm a real geek that way.