You often see SEOs or hosting companies recommending you get your own IP address and keep your web sites separate across different IP blocks, this way you don’t fall in with a bad neighborhood. Truth is, there is very little truth to that.

In the rare case Google may ban a whole free host or co.cc path but it is incredibly rare.

John Mueller of Google answered this also in a Google Hangout at the 24 minute mark. The question was:

The answer was “no.”

I love how he knows why SEOs think up on why they want to do it and then smashes it.

Here is the video embed at the start time:

Forum discussion at Google+.