Mutiple Item Masters

For a specific requirement I am exploring the option of creation two master orgs . I know that Oracle does not recommend this approach.

I need help in analyzing the pro's and con's wrt vanilla oracle if we go ahead with having two master organizations ( If there is a white paper on this topic can you please share the link).

Secondly is it possible to have the same item assigned to different item master with the same inventory item id?

Will Appreciate any guidance on the above.