R.S.
Hi
I've done it both ways and find it less stressful to have it at my own house rather than hauling things to another house. I've also had people drop off there stuff for me to sell and then people wanting to buy have a question and you have to deal with getting in touch with them.
I think the advertising together and having it at your own house is the way to do it. I've been a part of neighborhood sales like that. In your advertising put all 5 addresses in it. That will give the true "garage-salers" a goldmine of sales to go to close together. After it's over you can have a potluck dinner together to socialize.