Isn’t there a one year limit on the free tier? You want 2gb of ram or rebuilding we be a nightmare. You can make it run on 1gb + 1gb swap, but it’s not recommended.
I can confirm it works on OVH’s entry level OVH SSD package which is $3.35 p/m
Like I say, rebuilding/upgrading can be a bit of a chore. But otherwise it runs just fine.
Object caching won’t hurt, but it won’t really help either. All it impacts is your network/disk I/o which on a small* forum probably won’t make much of a difference.
*depending on what small means