Depends on the server provider and your content. If you are sending cold emails then use the VPS provider who allows cold-emailing. If your emails are 100% legit then there are plenty of providers to give you SMTP which you can integrate.
MW is quite resource consuming so you can get anything with 4 cores and 16 gb of ram and have some resources left for postfix or whatever MTA you're using. If you're looking for cheaper ones you need to go EU as USA ones are usually expensive.
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