This will protect both you and your potential partner.

Or should I save up separately for my first rental property and keep my personal residence out of this?

We haven't decided if we want to keep this or sell it.

This also allows you to be involved and gain experience for the future. 

Utilizing this strategy with FHA or Conventional loan products.Although sometimes the 4 units can be hard to find sometimes you can compromise and find maybe a 2 unit or 3 unit with 4 units.

Very interested in Rentals and wholesaling. im very excited to join this site - and would love to talk and learn more from you , I'm always eager to learn and meet new people . while I've been trying to get into the real estate world for a few years now - it's been a little bit tough, especially knowing where to start and how to go about it .

I've been on this platform and learned so much from fellow investors.

I know one of the main qualifiers is it has to be owner occupied - which is fine.Will there be any issues with this second purchase being in the same town as my first MF home?

This is very helpful. 

I learned this lesson the hard way when I bought my first investment property off market.You need tenants who stay for many years, pay rent on schedule, and take good care of the property.