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if you prefer to stay totally within the rules and not do any of the drm removal stuff....
all kindles registered to the same acccount can download copies of the same book. there may be some upper limit but it's higher than 2 ! ( prime may be an exception as it send the book to only one device, not to other kindle for XX apps. unlimited should work though as that is happy for the loans to go to any device on the account )
I am pretty sure that's also true for Kobo, for books bought from their store.
to use a kobo you have to sign in to an account. 2 or more devices can sign in to same account.
I have both an e-reader and a tablet signed into my (only) kobo account.
if the device is registered to the relevant account then it's allowed to download any/all books belonging to that account - it has to be that way otherwise how could you ever replace/upgrade devices.
you can also, at any time, unregister a kindle from account A and register it to account B. you then lose online access to book belonging to account A but gain access to books belonging to account B. I think the old books stay on device though, it's not something I've ever tested so cannot say for sure.
the only think you might have trouble with, if you are both reading the same book, is whisper sync "helpfully" updating last page read on each device. not sure if you can disable that at device level, though staying off line will do the trick!
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