How would I go about writing either a Terms of Service/Acceptable Use Policy or Privacy Policy for my website?

My site will provide webhosting, blogging service, image hosting and webmail.

i heard that you would have to pay a person in the legal industry a lot of money to write one [a high quality one though]. i dont have the money for that tbh!

i guess i could look at others for "inspiration" ? *shrugs*

The whole point of of these documents is to protect yourself legaly, so it only makes sense to have a lawyer help you write them.

For the hosting industry, the best bet would be borrow the documents from your upstream provider if you are a reseller. Or a cheap, but effective route is to order them from www.hostlegal.com.