nimmivh and
elE3k have good recommendations about hosting on an individual IP, especially if you are linking to each of your sites. In either case, Google can sniff out these sorts of things.
For fun I just contacted two companies I host with and asked them this same question:
"What issues are there or could I have if I have multiple sites on one ip"
Here are there technical answers:
Inmotion Hosting says:
The only issue you may run into would be with SSL's, if you have an SSL installed on one of the site s on that domain, the other sites will redirect to that site if you go to
https after ignoring the security error for not having an ssl.
HostGator says:
There shouldn't be any issues or problems as long as the files are in different directories.
When I probed them with a follow up question, "What about any issues that Google might have with me hosting on the same IP?"
Inmotion Hosting says:
I would not really be able to advised on how google search results would react to that. We do not offer seo support so I am not sure.
HostGator says:
It really shouldn't effect anything with Google, however we cannot guarantee any changes in your SEO rankings. However Our experience shows it shouldn't effect it.
Not sure how helpful that was, but there you go.