Should I build/purchase a server or should I pay for dedicated?

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http://dedicatedhostingweb.org – Hi, I am trying to launch several websites and expecting total few hundreds thousand people visit the webs at the same time. I found out that a good dedicated hosting quite expensive. (I am student). So I am wonder if would it be cheaper in long run if I build one myself? How do I know how much bandwidth is available and need? Also is there any specific tutorial on self build server. Thanks in advance! (HowTos)