do i sell both and buy new? or keep one?

I'd be inclined to repair the Remington, and I would not dismiss the Semi Auto, nor would I cut the barrel down to a shorter length. If you sell one or both that would be ok. But do it after you find something your going to be happy with. You could probably find an older Browning A bolt (II) and not be disappointed in it's reliability and accuracy.
 
I wouldn't cut the barrel on the Benelli, it's going to be obnoxiously loud cut down to 18.5 or 20". Not a big fan of the 742's, so even if you're only going to get peanuts for it I'd sell them both and either get a nice R1 in 30-06 or BAR Mark III in 30-06 or .308. Other option is a really nice bolt gun in the caliber of your choice. Sako 85's, Kimber 84's or Cooper rifles are all outstanding choices IMHO. For hunting rifles I prefer bolt actions as they are generally lighter, shorter and more accurate than semis, although I do like my semis for playing around with at the range.
 
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