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I concur with scott_silva. One of the biggest benefits of VM's is that it's MUCH easier to set up a new server from scratch. But even if it were a physical server, I would recommend wiping the drives (or, even better, buying new drives) and install fresh Windows and apps. Server name and IP address are the least of your worries. There are all kinds of problems lurking in the weeds if you try to re-purpose an existing server installation. Build a new VM.
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Have you uninstalled your exchange server from the server. If not you should do so to have a proper clean up of all Exchange attribute from your Domain prior to deleting this VM as other already recommended. <br />
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Also what version of SQL do you plan to install? &nbsp;<br />
Licensing is a bit tricky depending on the version you install.
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Agree with scott_silva &amp;&nbsp;gilnov.... Wipe and Rebuild.<br />
If this is going to be a dedicated server you want to ensure that you only have what is required and lingering pieces. &nbsp;Also if something goes wrong it's harder to identify if it's related to some component, app, feature or configuration.<br />
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Agree with yo_bee.... Licensing is a big deal and when you talk vm it gets even trickier. If this server is only going to be used as a non-production server the answer is simple developer edition it is comparable with enterprise and the cost is way less. &nbsp;If it's a production server it must be either standard or enterprise, most shops can get away with standard as they may never use the enterprise features and the cost is a big difference between standard and enterprise.<br />
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When you figure out which version (2008,2012...) then you should look at the microsoft pricing guides
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Yo_bee makes a good point. Be sure to properly decommission the Exchange server first. In fact, if you have the storage space and licensing sorted out, hang on to the existing VM and vhd for a while until you're sure you don't need to fire it up again to do more decommissioning.
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I need some advise. We outsourced our email so I &nbsp;would like to clean up our old Exchange Server &nbsp;and use it for a SQL database server<br />
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I assume I should change the name of the server and the IP Address first thing. This is a VM Server &nbsp;the OS is Windows 2008 R2<br />
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Any advise &nbsp;I would appreciate
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I need some advise. We outsourced our email so I  would like to clean up our old Exchange Server  and use it for a SQL database server

I assume I should change the name of the server and the IP Address first thing. This is a VM Server  the OS is Windows 2008 R2

Any advise  I would appreciate

Clean up and old Exchange server

Windows Server 2008 and Windows Server 2008 R2, based on the Microsoft Vista codebase, is the last 32-bit server operating system released by Microsoft. It has a number of versions, including including Foundation, Standard, Enterprise, Datacenter, Web, HPC Server, Itanium and Storage; new features included server core installation and Hyper-V.

Windows Server 2008

Microsoft SQL Server is a suite of relational database management system (RDBMS) products providing multi-user database access functionality.SQL Server is available in multiple versions, typically identified by release year, and versions are subdivided into editions to distinguish between product functionality. Component services include integration (SSIS), reporting (SSRS), analysis (SSAS), data quality, master data, T-SQL and performance tuning.

Microsoft SQL Server

Exchange is the server side of a collaborative application product that is part of the Microsoft Server infrastructure. Exchange's major features include email, calendaring, contacts and tasks, support for mobile and web-based access to information, and support for data storage.