backup an existing linux server to a virtualbox virtual machine

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http://serverfault.com – I have some servers and VPSs to many companies across the world. I want to back them up locally. I have some backup solutions enabled to remote hosts, but I want to have a local backup on a computer at home. What I am thinking is: Create a virtualbox virtual machine, install the same version linux as the server. Use rsync to backup the server to the local virtualbox machine. (something like rsync -av --delete --progress --exclude '/dev/' --exclude '/proc/' root@server_ip:// / ) Repeat the command every few days update files. In case of a hard disk failure, or any other bad event, reverse t (HowTos)