I looked around google's help section but couldn't find an answer to this, I'm wondering if google is ok with running both image ads and text ads on the content network and if so which is the best way to divide them? In adgroups or should each one get its own campaign? Thanks in advance.
I know there is a certain number of ads per page, but I can't recall hearing anything about the type of ad.
There's no problem mixing text and image ads in a group. There's other ways to do it of course such as a group with only image ads and another with the text ads or splitting them up in different campaigns. Sometimes it's a personal preference, sometimes your situation dictates the best approach.