[microtonal]

This, when I was a student and had to live frugal (2001-2008 or so), I got a second-hand Dell, put it on top of a high cupboard in my dorm room, and installed a bunch of services (e.g. Trac was very popular in the day for hosting projects).

It won't give you 99.999% uptime, but for that stage in my life it was just stellar. I even had an open source project (Slackware fork) where I collaborated with someone else through that little machine.

Second-hand hardware is also a great way to get high-quality enterprise hardware. E.g. during the same time period I had a Dell workstation with two Xeon CPUs (not multi-core, my first SMP machine) and Rambus DRAM (very expensive, but the seller maxed it out).