Hosting Dedicated Server 1.0

Im looking to host a server, but not sure what i should be looking for in 1.0. I dont think we would have many people on it, maybe 6-8?

I don't know if 3GB of ram would be enough (cheapest option on one of the sites Im looking at).

Additionally, I would like to know how to set up a way to make sure time doesnt pass when no one is online, if that is a thing that can be done.

Thank you.