We present a self-consistent study of coherently coupled two-component Bose-Einstein condensates. Finite spin-flipping coupling changes the first order demixing phase transition for Bose-Bose mixtures to a second order phase transition between an unpolarized and a polarized state. We analise the excitation spectrum and the structure factor along the transition for a homogeneous system. We discuss the main differences at the transition between a coherent coupled gas and a two-component mixture. We finally study the ground state when spin-(in)dependent trapping potentials are added to the system, focusing on optical lattices, which give rise to interesting new configurations.