The only concern I would have is I have a friend who uses a "Website Builder" service at 1&1 hosting, but his hosting package doesn't include FTP access nor the ability to create additional MySQL databbases nor access to the database at all.
As long as the hosting package allows you to upload/remove files by FTP or a File Manager, access the database, create new databases, assign users to databases, set rights to users on the databases, and runs a version of PHP for the version of the VB software you want to run you should be fine.
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