I do this with a Linode machine. My development is done in vim through mosh and the latency surprisingly isn’t an issue.

It’s amazing how many problems just vanish with this setup. Backups are totally automated and a restore is a single click. No fussing with network tunnels for webhooks from Stripe. Downloading dependencies or uploading artefacts is super fast because I’m on a data center connection to the internet. When I’m accessing my dev environment it’s from a browser on my thin client so I never hit those weird CORS differences between localhost and a real domain.