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Old 25th March 2018
Here for the gear
Name says it x Livetrack is mainly for mixing live performances. R24 less so

I’ve been researching both products all day, I just finished reading the manuals though

Here’s my comparison of the 2

The R24 R16 and R8 are typical portastudios in the old Roland VS style

Perfect for layered recordings, each track separately and with several takes. Auto punch/in and out, AB looping of a single passage to do retakes etc.
production features in the unit itself: you can bounce tracks to combine them. Pick and choose from different takes for each track. Bounce tracks with onboard effects to record the wet sound ...
Battery powered if you want
Builtin effects for typical guitar, bass and drum sound shaping, not just a single FX send

Only 1 headphone out, and thus only 1 monitor mix
No aux sends

On the other hand, The L-12 is a primarily a live digital mixer, with an extra recorder output added to it. It dumps wav files for each track’s dry signal, and for the master stereo out, but that’s rather rudimentary

Extras: up to five fully individual headphone output straight from the board
Inline compressor on each channel
Better knob layout with distinct rotary knobs, so much more convenient for live mixing as you don’t have to dig into the menu on the tiny screen all the time
Less effects, and only the kind your PA sound engineer would be adding to your stage signal.. less clutter and less useless gimmicky junk which nobody wants.

Any form of editing post-recording: your tracks can be played afterwards, and you can overwrite them, but this will just result in new wave files for each track to go onto the SD card, and you’ll need your DAW in he computer to do all the further work.
Guitars will need their own preamp and pedalboard if you want something fancy

My conclusion
To record a live performance with multiple performers and capture it for later postproduction, or just for amplification, I’d pick the Livetrak, mainly for its multiple headphone mixes.

In a home studio where you build up a project from scratch with individual takes, or for a 1 man project, the R16 series will be more convenient only if you prefer not to work on computer, or if you do not have other fx gear already at your disposal. Plus it can be had for a lot cheaper, especially second hand.