You should have unique content on both sites in order to rank them separately and avoid being penalized by duplicate content filter.
It's almost impossible to give complete and proper SEO answers to your questions without knowing your exact domains and search terms you want to rank high for.
I recommend you either buy and study the excellent manual from seobook.com or hire a professional SEO specialist.
Keep in mind that SEO is a long-term process that requires some investments and no one can really guarantee the results. It is rather easy to push a site to tops of search results for one or two days for low traffic keywords using blackhat techniques, but after then the site will be banned. So be careful.






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