Asterisk and Virtual Private Servers

Virtual private servers (VPS) or Virtual dedicated servers are a form of virtualization that splits a single physical server into multiple virtual servers. The practice of partitioning a single server so that it appeared as multiple servers has long been common practice in mainframe computers, but has seen a resurgence lately with the development of software such as VMware, User-mode Linux, FreeVPS, Virtuozzo and Xen. (From Wikipedia)

At the outset, possible issues arise out of inability or difficulty in sharing timing source (required for MeetMe). http://www.linode.com/forums/archive/o_t/t_1981/running_asterisk_pbx_on_linode.html has some suggestions