SBS 2003 to Server 2012 + SQL server

I have several customers that need to upgrade from SBS 2003. All use SQL server and Exchange 2003.
I intend to migrate from Exchange 2003 to Office 365 /Outlook. As most customers are about or over the 25 user max for Windows 2012 Essentials so I need to use a full version of Windows 2012. As the server will be a domain controller I can't install SQL server.
Any suggestions as a way forward? Do I need 2 servers? should I create Virtual servers?
I imagine many other people are in the same position.
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Cliff GaliherConnect With a Mentor Commented:
If they use SQL server then 2 servers or going virtual are both options. There are pros and cons to each approach, so I am not comfortable saying "always do this."

A machine shop that has a LOB app that controls automated manufacturing items and uses SQL on the back end may need physical servers because of the limitations of virtualization. A small restaurant may be very price conscious and the 1+2 virtualization rights better fits their needs.
gogsckAuthor Commented:
Going for the Virtual option. One Windows 2012 standard running two virtual servers.
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