I am running a W2K advanced server, and wanted to know how do I setup a secondary server incase the primary gives out or get's hacked?

Should I keep the secondary server in the same place or move it to another colocation.

Any suggestions would be greatly appreciated.

Thanks in advance for your knowledge:)

I would just take an account in another location - from another network/provider. Don't put all your eggs in one basket.

I agree, if you there is extensive downtime, you do not want both servers to be down.

Exactly.