If you are just starting then I recommend you start with a shared host - from a reliable decent host this starts at around $3-4 per month. As I just said in another thread if you start out at a small shared package you can then expand as your site requires.
Remember that you can start off small; obviously I do not know what you are planning on running but with low visitor count you can start with a small VPS server. When it takes off you will be able to expand much easier with either funding or from advertising. You might even be able to speak to a host about sponsorship.
What are you really trying to save by doing this, especially when real hosting is available for such small amounts. If your doing this when you are just under development that might be one thing but one you launch if you really want this to be a business then treat it as one, it really is a small expense for a cornerstone of your business.
I need 512 RAM at least, thats not available for small amounts.. for my country u need to multiply by a factor of 10 to come to purchasing power parity ..
also my site isn't yet up .. once its up and earning i can afford to spend more..
I will not be exposing a port 80, but a random port which will be connected to by the apache.
You will need to get a dedicated IP address, maybe multiple ones depending on how you set it up. Not all providers offer that in a residental package -- you may have to get a business class internet connection. I'd start there to find out what the price range is, as it may end up being cheaper getting a server co-located.