I love my Octatrack to death but I’m not sure if I would recommend it as a live looper. There is a difference in it between recording a loop and layering sounds on top of each other like a looper would do. The latter is a little confusing and also it doesn’t have an undo-function. Which I think is pretty important.

Playing the pre-recorded loops should work fairly easy, though. You can also make your buddy’s Ableton trigger them so they will play automatically but that depends on if you want that to happen.