How to go from a regular OVZ install to minimal OS (e.g. if your provider does not offer minimal OS)

This guide was made by Time4VPS but most likely can be used to "downgrade" any OS below to a "minimal-OS"-like version.
I do not guarantee success though it worked for me. As the tutorial is too long (more than 10k characters) I cant post it here so please check it out in its original source:
Original guide: Click