A property feed integration contains all the listings within a complete MLS or CRM listing feed, which could (but doesn't always) include listings from numerous agents, offices and brands.
Some ActivePipe accounts will be set up with a single property feed integration, with no segmentation (i.e.: Listing Office Feeds, Exclusive and Non-Exclusive Listings), because their feed structure doesn't require any. They will have access to all properties from the integration, and may only use property filters to customise their property panel content.
Other accounts may have two or more property feed integrations, with or without subsets.