"There's no money in the hosting without a webapplication part (my 2 cents)" - totally agree, that was my experience too.
So you actually asked about selling services and apps hosted in the cloud? That is a good business, if you make it your core business. For example, we resold Google Apps to clients. Since clients were local and preferred to call our phones for support, we sold them our support services too. So, the client bought Google Apps for Business licenses through us and bought added-value services like support, installation, migration, consulting etc.
That's a good business. Specialization and focus helps here, so that you don't spread yourself too thin.
So you actually asked about selling services and apps hosted in the cloud? That is a good business, if you make it your core business. For example, we resold Google Apps to clients. Since clients were local and preferred to call our phones for support, we sold them our support services too. So, the client bought Google Apps for Business licenses through us and bought added-value services like support, installation, migration, consulting etc.
That's a good business. Specialization and focus helps here, so that you don't spread yourself too thin.