Hello,
Usually, we use a host ip address completly different from other interfaces. Do not forget to include these host addresses in your routing protocol.
You can selected a subnet which will be used for monitoring and management from your address space and sub-divide this subnet - one host per device.
Example:
192.168.0.1 - Router 1 - loopback 0
192.168.0.2 - Router 2 - loopback 0 etc.
You will also source snmp traffic from R1 using loopback 0.
Hope this help,
Nadine.