I have run pi-hole on the cheapest tier of Rackspace cloud server for 2+years now with great success. It’s wonderful. Just configure my routers dhcp to set my pi ip for dns and no ads anywhere (YouTube, streaming [except Hulu unfortunately], and general browsing). It’s especially nice now that it seems every company is offering their own streaming apps with ads. Recent example was I wanted to watch an action sports video and firetv had it with the redbull app. Ten or so minutes in and the video was interrupted with “here’s some ads” stinger and then the video immediately resumed. Kinda caught me off guard but produced an instant smile.
One thing to consider though is becoming a dns resolver for any random thing on the net. What I did for this was create a bash script that adds the visiting ip to iptables whitelist. Created an impossible-to-guess php page (pi admin uses php so it’s already installed and ready to go) which takes the REMOTE_ADDR and passes it to the bash script to add to iptables. Makes it super easy to allow ip’s when isp changes address or when visiting family/friends and they want to use it.