If I level characters from 1 to 90 then I run 5 bots at the same time (1 tank, 1 healer and 3 dps). I party them up and let them run dungeons. The reason why I use 5 bots at the same time is, because botting with random people in dungeons is to risky for me, especially if you do it with more than 1 bot in a party. I link all of the characters to each other with friend request so I get triple xp. Once they hit 90, then I train every one of them separately and I level them with questing, which is in my opinion the fastest way to level from 90 to 100 (since the triple xp won't work anymore).
In the past I tried to level multiple characters at the same time, in a group while questing. Most most of the time this didn't work that great. The characters got to far away from each other (slacked behind) which prevented the triple xp bonus.
But if you want to run 5 bots at the same time, then I first recommend creating 5 starter edition accounts (for free) and check if you can run 5x wow + 5x honor buddy. If your computer(s) can handle that.
I buy most of my cd keys at g2a.com. They are (most of the time, and depends day by day) one of the cheapest sites (that I know of) where you can buy cd keys, see
http://www.g2a.com/r/wow-starter-battlechest-eu for the current price. Don't buy the key from the right side, scroll a bit down and look for the cheapest cd key there (also look at the rating of the seller, most of the time I don't buy from new users.
And I also got 3 cd keys which I'm willing to sell for 10 euro's (for 3 of them, not each). Got them when I and my friends went to the warcraft movie, but won't be using them. I can send you the first one before you pay me for all 3 of them (so you know this. If you are interested in the keys, then you can PM me.