It does not work that way, you connect it via either your wifi or ethernet to your router, then any TV in your house will be able to receive it.
As long as your TV has a app for Tablo or a streaming device, like your Roku Ultra.
For example, if you purchase the 4 tuner model, you have 4 TVs, each with a Roku, then all four of your TVs can watch OTA or a recording via the app.
And yes, you get a guide and everything that comes with it.
If you set a recording on your downstairs TV, but wish to watch that recording on your upstairs TV, you can do do.