It’s up to you what you want to do with your account, but remember you'll be under attack so cover every whole you may have and also you'll have to some how allow users access to PHPmyadmin

Thanks!
This may be a project I will work on this summer. What I'm thinking to minimize security issues and abusers is to manually create the database upon payment or request and monitor activity on the sites registered. And since I'll be charging a fee then perhaps not too many will sign up that would abuse this service. I want to find software other than PHPMyAdmin so that I can just let users modify their database and not have access to other users. I don't know if such software even exists. If not I may scratch the idea all together.  Thanks again for the reply

To name a few:
People using the Database to host hack, warez, illegal MP3 sites or forums, using it to gain access into other users accounts. Hosting forums for hacking Satellite TV comes to mind and for illegal pornography. Lets say I gave someone a DB for a portal...a portal is basically a predefined site that a user adds content to. If someone wanted to use the portal to host and distribute illegal software or music then I could be held accountable for that site although I am only providing the database. That's why I'm thinking of doing forum hosting instead. It's much easier to clean up and monitor.