If you are good with linux, go for it. If not: don't.
Getting it set up properly, monitoring it, restoring it when it gets hacked (fuck yes, happens here and there, even if you are good), etc.etc...
Quite time consuming.
I have 2 VPS for quite a few years now, learned a lot - and I am moving my sites one by one to decent shared hosting and probably a managed server soon.
If you want to give it a shot - I am with Vanager, who are now part of Hosteurope - they are pretty good and have reasonable prices.
Many VPS providers offer "managed VPS" as well - bit more expensive, but well worth it if you have the money - all the basic server configuration shit, hardening, updates, etc. are handled by them, while you still have the advantages of a VPS (configurable, root access, etc.)