After many tries, and researching how to do it, I finally found that it can be successfully be installed on Godaddy's Plesk Hosting and I thought I'd share it with anyone here who may be facing the same delimma that I was! Here's the steps;

• Create an SQL DB.
• Create a virtual directory. In Plesk select Virtual Directories.  Make sure you are in the site root and click Create Virtual Directory.  Leave all the default settings and click OK to create the application and directory. 
• Plesk will browse you into your newly created folder. Click Directory Access Permissions.  Click on Application pool group (IWPG_{your plesk user name}).  Select Allow Full Control check box (all others will check themselves).  Click OK.
• On your local PC, unzip DNN 8.x install files into a directory and using your favorite editor edit the web.config file. Change the SiteSqlServer setting under connectionStrings to your SQL DB connection string.
• Upload all DNN files to the new virtual directory (NO NOT BROWSE TO THE SITE YET!).
• Go back to Plesk and make sure you’re still in the virtual directory you created and click “ASP.NET Settings”. Make sure the SiteSqlServer connection string is what you entered (this tells you that you’ve uploaded the web.config correctly and now Plesk can make it’s edits to the correct web.config file). 
• On the “ASP.NET Settings” change the “CAS trust level” to “Full” and click OK.
• Browse to the site. The DNN installation screen should appear.  Fill in all the information for the host, site and database, then click Install.  Let the application install and you’re done!

Nevermind... got it.