I have this same problem as I fell for the hey it's all good buddy scheme. I even asked if this theme would work and DreamHost isn't very knowledgeable (the site would log me out and revert to the 2016 Automattic theme and would just forget that the WPLMS theme exists) about their own products and I'm all alone in the internet now clutching my themes and related domains.
Hosting - Topic on VibeThemes WPLMS Forum
Managed Hosting for your BuddyPress Community - WeFoster (suggestion that Admin had)
Hosting Recommendation - Topic on VibeThemes WPLMS Forum
Cloud Hosting - SiteGround
This is good so far but I would like to have some other options so I can see what else is out there. If anyone would like to come forth with your host that you trust to run your site that would be a real help. Thanks for the suggestions as they are already.
Virtual Private Server on TSO Host (UK). You'll need a decent server if you have many users and VPS is a good compromise.
Make sure you use a decent caching plugin like W3 Total cache plus something like Cloudflare as CDN.
Use GTMetrix and Pingdom to optimise your site speed.
Thanks for the suggestion. I didn't think anyone would respond, it's quite chill that you did.