Question regarding the EAR 834P...

Give one of these a try.
http://schiit.com/products/sys

I don't think adding a switch into such a low level circuit is a good idea.

I would absolutely rule out the splitter approach, and I would suspect that the switchbox approach is likely to result in a significant degree of sonic compromise.

Keep in mind that with the splitter approach you would be connecting the two cartridges to each other, as well as to the phono stage. With that approach, the most major of several issues that would result is that instead of loading the 2M Black with the recommended 47000 ohms you would be loading it with the VERY low impedance of the 103R.

With the switchbox approach, among other potential issues, both the added cabling and the box itself would increase the amount of capacitive loading that is applied to the cartridge that is being used. The input capacitance of the EAR 834p doesn’t appear to be specified, but I wouldn’t be surprised if the total of all of the capacitances resulting from that approach would exceed the range of 150 to 300 pf that is recommended for optimal sonics in the case of the 2M Black. And I wouldn’t be surprised if there were adverse effects on the signals from the 103R as well.

Regards,
-- Al

"Keeping in mind I will NOT even power on the Table that will not be in use. Thoughts? Enter your text ..."

What Al just said. Also, not powering on your TT isn't all that relevant. That just turns the motor on and has nothing to do with the cart. So, even if the TT is off, you can still spin the record by hand and it will work. It won't sound right, of course, because there's no way you can get the proper speed spinning it manually.

Just as an economy try out, Schiit Audio has a really cheap mm/mc phono amp that can be picked up for almost pocket change---$129. Perhaps not as good as the EAR, but maybe good enough for awhile.

Pure speculation here, but if there is any money to spend, would it make sense to consider the iPhono2 (rave reviews and only $500) to replace the MF?  You might be able to re-sell the MF for that much.  Sorry for maybe changing the subject, but Almarg said it all; your actual question is answered, in my opinion.  Or search Audiogon and etc, for a used tube phono, if tubes are your thing. (They're my thing, anyway.) Don't be afraid of old stuff that is relatively cheap but still quite good, if you really feel that a second 834P is out of the question.

Again....Ask and ye shall find. Thanks for all the input! My gut 100% told me not to split it but I think I was looking for absolution or for someone to tell me that splitting is perfectly fine!  As a new course of action I will try and replace the MF or maybe just physically switch between the two tables and the EAR until a proper solution is found...

Here is a solution to your problem. My friend uses this for his second phono and says it is outstanding!
http://parksaudiollc.com/budgiepreamp.html

just switch cables going into the EAR when you want to switch turntables.  I do this with some regularity when I want to record a needledrop on my alesis.   

Come to think of it, I do this too.  I have two turntables set up in proximity to my Atma MP1, and I routinely switch the input cables to the phono section.  The drawback is that you cannot casually switch back and forth.  The DSA Phono2 is a great if very expensive solid state phono stage that contains three entirely discrete phono stages in one, such that one can have 3 different turntables with 3 different cartridges set at 3 different levels of gain with 3 different R and C loads, all accessible at the touch of a switch.  It's a beautiful and elegant device that IMO is actually under-priced for what it does and how good it sounds. But I am addicted to tubes.

Perhaps a clever tech could add a second input to the 834P?