I would stick with one of the hosts form here: https://www.elgg.org/hosting.php

It's just one opinion but I would quit writing code before I would host on GoDaddy.

I agree, GoDaddy's UI and UX are just terrible and it's not cheap.

I did say:

If you aren't familiar or feel comfortable doing your own installations then you might want to go with Arvixe as Cim suggested since they offer Elgg installations.