I would actually recommend you looking at a different approach.
In the beginning, cloud hosting was very expensive and hard to understand. Cloud hosting now is very affordable, as you pay only for what you use which is different than shared or dedicated hosting where you pay a set price whether you use bandwidth or server cycles. Also as you highlight, shared hosting is a security nightmare.
I would recommend you look at Amazon's EC2 hosting. You can find a little about it here: http://aws.amazon.com/ec2/.
For example you could use their LAMP stack or the Ubuntu server you can find for very reasonable licensing here on the AWS Marketplace
On real benefit right now is that Amazon is offering one free year of service, so you could try it, keep track of what it would cost you within your year of usage and then decide if it is economical to continue for another year.
Some other things to consider, is that their infrastructure is among the top most secure infrastructures in the public web domain. You would have protection behind their firewall, without having to be a firewall expert. Their management API is very easy to use.
I hope you look at this option and it helps.