Question
I am building an adwords account for a client that has multiple locations that overlap in the same state. They all have different websites. I'm wondering if I should setup multiple adwords accounts so they can each be linked to an analytics account or put them in 1 account so it's easier to manager. Their GEO's overlap but they all have different websites and brands. For the most part they will be targeting the same keywords and have the same buildout structure.
Answer
I'd rather look at it from this perspective: create a different AdWords account for a different business.
For the rest, Lee is mentioning great points.