No problem. Just make sure it's solid hosting company. My two favorites right now is Hostgator and SiteCloud, but the keyword here is RIGHT NOW!

Now, as far as linking between sites, you may want to have different hosting accounts for that. Sometimes if you close the triangle linking between your domains you could get in some trouble.

I've seen some webmasters get HURT by linking between their own sites allot, and some others just seem to get lucky. Don't know the actual algo of course.

I would suggest you do as we did. We use 8 different hosting accounts for around 40 domains.

Yes, I have multiple accounts on one hosting and I'm hosting adsense. It's never been a problem. You should be okay. Seems like you know what you're getting into.

thank you guys for your replies... i can finally start now! :-)

that's alright, as long as you have the ability to support and power up all of your domains.

Don't put all your eggs in one basket!!!

Google could incorrectly consider one of your site promotions black-hat and penalize your other sites hosted on the same server- destroying your traffic and therefore your income in the process...Spread your sites among different servers in case anything ridiculous happens.

You can use one hosting account but dont link the sites between them, they will have the same root ip and google will see that. Besides you should be safe.
If you dont have hosting already you can go to HostGator-coupon code for 1 cent first month of hosting "GreatSeoService"

thanks for the tips... and i will remember not to link sites using same hosting. :-)