You can start building backlinks as soon as your website is ready to receive traffic, just start slow with fewer links then increase with time. This would also depend upon your competition.
It usually depends upon what you intend to do with traffic as not all sources would be good for your purposes. With that said however, I would always suggest SEO over purchased traffic.
Yea thats fine, not an issue though I would recommend that you use subdomains if you want to setup multiple websites on the same domain, that way, each subdomain could get its own existence on webmaster tools and could also be targeting different geographic locations.
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