Go through the docs step by step, it may seem gibberish but it will make sense. The simplest hosting you could go for is shared hosting, I wouldn't go any cheaper then that, be aware that if your VA becomes very successful you will need to upgrade to a VPS or dedicated server as successful VA's can cause the server you are on to run out of memory/bandwidth and your site will stop working. Be warned running a VPS server is not the easiest but you can get managed VPS so it is not too bad, you would preferably want to increase memory limit to around 500mb the default of 32mb is just too low in the long term. Most modules and themes for V7 are pretty much plug and play meaning you instal them and away you go with them. Your best bet is to try and start it with a friend or someone who knows coding even if it is basic coding. Some coding knowledge is required to run a VA