Hosting accounts sharing

Hello.

I have a some blogs to support my niche (e.g. http://slovakian-news.com). I host it for now on my own server, but I want to move them do different IP (because of SEO).

This blogs will not eat much resources and few webspace will be enough, therefore I tried many free web hostings, but no one fit my needs (the most frequent missing thing was .htaccess).

As there are many "oversell" hostings around I thought about to buy some. But I will need more than one hosting if I want to have all blogs on different IP. But I won't spend money on many hosting accounts. Therefor I am thinking about "oversell" hosting account sharing. As they are giving a lot of databases, ftp accounts, unlimited domains and a lot of space and traffic, there should be hosted more blogs on one account. So if there is somebody who will be interested in the same thing, we should each buy different hosting account and share it.

Please, let me know whether is this a good idea or rubish, and if you will be interested about it.