I have kind of the same architecture. I host multiple dedicated servers and vps instances in the Hetzner "cloud", but all of these connect to a few hosted databases by Hetzners web hosting packages for like 20 bucks a month. It sounds insane, but the one thing that absolutely needs to stay online, is the database, so not hosting this myself makes sense. And since Hetzner is apparently tuned their dirt cheap databases pretty well, we can hammer them pretty hard without any problems.