I've known quite a few people who've attempted to start their own "hosting business".
Every single one of them shut down after a could of months. It might seem an easy way to make some money without too much investment, however, you need to know your shit before you get into it. There are countless of problems that may occur that would clog your server. Malicious plugins, cluttered databases etc. etc. etc.
If you have a couple of months to lean the basics of server administrations, you might have a chance. If not, quit while you're ahead.