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I too am making one of my first posts, and I too have similar questions about multiple sites.
I believe multiple sites on a single subject - for the sole purpose of trying to get one or more of the sites to rank well is wrong (x-linking for PR etc) - and Google tells us they don't like sites with similar content.
However, in my case I started with one site, then as my business grew (over the past 6 years) I added others. Each site is travel related and focuses on a single city.
I believe it makes sense for my visitors (who are always planning to travel) to see links to my other sites as they may be interested in traveling to more than one destination.
I also believe it makes sense for my business to tell the world (my visitors & advertisers) that we have a growing network of quality destination web sites.
Lately I've started to worry that the way in which I link to my other sites may trigger a penalty in Google (& other SE's). I used to have a links to each destination at the bottom of each core information page, I few months ago I removed all these links & put a single page on each site listing all the destination sites in our network.
Google now lists fewer back links to each of our sites, but it hasn't affected our ranking.
... BUT, I am also seeing more and more sites with multiple sites on a single subject, that go to great lengths to 'hide' the links on each of their sites, achieving better rankings.
This frustrates me a little, not just because they are cheating, but because many of them are very quick to tell their potential clients that they are 'expert' at search engine placement.
So, happy with my good rankings I don't worry too much, and feel Google will sort them out soon enough... but the longer it takes the more I begin to think I will be penalised by what ever Google eventually does to catch them.
Hope my experience helps, and hope it expands this discussion.
What you need to make sure you avoid is anything that resembles a "link farm" - i.e. you should not link each site to every other site and to nothing else (especially if you have very few external links coming in).
I run several sites and I link all of them to our main company site. I also link some sites to some other sites (sometimes on-topic, sometimes not) and have never been penalised by Google. Just go easy on it!
This is a normal thing for companies to do. There are many good reasons to do it. I want my customers to know about my other sites. Just don't do anythying weird like all kinds of different URL's all over the place crosslinking like a spiderweb. I know the footer thing works.
All established sites in our network have PR 5 or 6... now that we link to our 'links' network page from each core page, each 'link' page also has a PR of 5 or 6.
So on the PR side of things it's probably even.
But as I didn't do it for the PR, the footer way would be more visitor friendly.