You will want to use field types and linking in Airtable instead of formulas:
1. Create a field in Table 1 using the "Link to another record" field type and choose Table 2. That will create the link. 2. To pull over specific data from Table 2, create a 2nd field in Table 1 using the Lookup field type and choose the linked field from Table 1 that you just created and also the field from Table 2 you want to pull over.