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with a site for all the domains you are the webmaster for
I would question whether you want to tie your networks so closely with another SEO's network. I wouldn't. It may be fine and help you, but it certainly brings up the risk in areas you won't be able to control (what the other does on his /her sites)
Of course there are a lot of experienced folks out there who have no problem with reciprocals. They may think differently.
Say pageA has Site1 , Site2 and Site3 ... , when you will do a similar page search for Site1 , you will get SIte2 and Site3.
So now Google can find out using other patterns(not always possible also but still not impossible) , that Site1, Site2 and Site3 is own by a single person.
So you leave a pattern and you will be tracked.
Thanks
Aji
Adsense, anybody?
No it's not adsense, let me give another example to explain.
Say Page resources.html of widgets.com links to cars.com , computer.com and casino.com.
Now try to get the related pages for cars.com, you will get computer.com and casino.com as realted sites , though they are non-thematic.
Aji
I would not worry about that, provided each domain carries its own unique substance, i.e. no closely duplicate contents and no same products. If you have only one or a few domains, then you may be able to ask for link one by one and make backlink different.
The problem is when you have many domains and it is super time consuming in your link quest for each individual site before you can complete one cycle. It is more practical to venture for links per lot or per set. As a result, you will end up with similar backlinks for each set.
Then your question:- "Would google pick this up as a penalty?"
My answer would be "NO"! I have those sets at 2nd tiered level whose 98% backlinks are all similar and they are doing fine with decent PR and traffic. When I update links, every site in the set receive nearly the same treatment for a time-saving purpose. I hope this could help to answer your specific question.
Anyway, I don't have to wait for G to begin any penalty in case my assumption is right today but wrong tomorrow, those 1st tiered sets (the real money generators) receive more care and attention and the backlinks are different.