I have a chance to get a really cheap dedicated server, what are some good ways to profit from having all that space and bandwidth? Is small scale web hosting profitable or can I make any money from something like an image hosting website? Not really sure what to do with the server but I'm sure theres something I could be using it for to make a decent profit.
small scale web hosting wont work, way too much companies out there image hosts are really hard to monetize
You can rent out some space of it to other people and you can earn from this. If you looking for mass profit,then you can oversell your server by offering unmetered space & bandwidth.
If it is a really cheap dedicated server, why don't you use it to your benefit? Host your aff sites/promo pages and enjoy the "always on" service p.s. how much is a "really cheap dedicated server"?