I'm looking to setup a firewall on my HyperVM Server. What sort of firewall did you setup? Any good tutorials around?

Care to share a bit more details on what you are doing with the HyperVM server?

There are many different types/setups of firewalls and all have different throughput levels also.

Are you filtering traffic? trying to prevent DDOS? Rate Limiting?

Do you want a hardware or software solution?

If you can give us some more details on what the server is doing, what traffic levels you expect, and what you want to acheive i'm sure we can start recommending something for you...

DDOS needs minimum 2GB Ram. Also u need DDOS hardware.
If you have a small VPS use formal firewall.

You can use Hardware firewall at the entry point of your organization Network, and need to install software firewall on the nodes/ Desktop machines within the network.

To counter a DDOS attack the most important thing to do is make your IP banlist ENDLESS. This means you dont make IP limits in your list. With large ddos attacks this causes new ips to replace the old ips in your banlist. Causing the DDOS to continue. With any firewall, hardware or software, this will cause a problem.

Yes, you should take care of attacks and flood.

To prevent DDOS attack you need server root access as well. So you need that level of privileges from your web host.

ConfigServer&Security Firewall is the best to go with. Look up "csf firewall" in google and you'll definitely find it.

Yep, an endless IP ban list is very important.

I googled csf firewall as PP suggested to the OP and it does offer a lot of good features for DDOS prevention.

CSF is my advice

Go CSF firewall .. easy to administrate , install and powerful software firewall for linux environment

How critical is your purpose ?
Because countering DDOS attacks will need endless ip ban list and also needs huge RAM, if you are going to implement it for typical purpose just use
CSF its fine and will safeguard you to some descent extend.