Need advice on starting multiple blogs

I would like to thank everyone for answering a few questions I had on the best strategy for multiple blogs. I did recieve lots of different answers which says to me that it can work either way. Here is the scenerio again.

I am planning on creating multiple blogs sites for primarily to find individuals to find real estate deals for me and my partners all over the country. I will be providing my own articles and tips as well as other helpful information. My other plan is have google adsense on each of these blogs to generate some additional revenue. Ideally that area where i look to find deals in will be found of course by people in the given area (arizona based person looking for real estate tips and oh course finds realestatedeals.com/arizona etc.)

The multiple blogs (say 50 cities) will have the same content as far as my articles and tips go and also unique information pertaining to that city. I will use a multiple blog software poster B2evolution which will make it easier for me to manage (also add any suggestions on that software) I will also look to (optional get a cheap host service to host all theses blog sites) which works like wordpress

My plan was to:

1) Buy all 50+ or so domains, connect them to b2evolution, put content and adsense and run it for the best possible SEO (which is the main point)

2) Host one MAIN domain such as investordeals.com and add a directory on it like: investordeals.com/hartford and investordeals.com/arizona etc and make it a permalink???

3) Host one MAIN domain such as investordeals.com and use a sub such as hartford.investordeals.com and arizona.investordeals.com etc

I heard positive things on all to create great SEO. I would like to know from people who have done this before and can give me the best advise to go in this particular situation. It would be nice to hear from bloggers who run tons of sites to see what you think to

- Would google syndicate this as violation of multiple content?
- Which of these would work best for the business strategy?
- Will the permalink if that is the best way to go really work?
- Any suggestions on web hosts at a great bargain? I am currently using siteground but researching others for this type of project.
- Ideally I would like to go with options 1 or 2 but I am afraid google wont recognize it as a seperate url?

ANY HELP WILL BE WELL APPRECIATED. THANKS A WHOLE LOT IN ADVANCE