Make Sure you download the correct kernel

When you download the kernel, make sure you have the right one. If you have a SMP (or hyperthreading) CPU make sure you download the SMP version of the kernel (ovzkernel-smp) and if you have 4gb of ram or more make sure you get (ovzkernel-entnosplit)

 Utilities

With the newest version of OpenVZ, you should get the utilites aready included on the kernel install. So you may not need to install the utils.

Add DNS

It is best to add a DNS server after you add the ip address to the server:

vzctl set 112 --ipadd 192.168.6.112 --save

Centos Template Cache

Sometimes it is best to download a precompiled version of the Centos-4 template.  Creating your own template can cause problems at times.