Quick question, when TOing an event. the TO is generally not allowed to participate correct?

I offered to TO an upcoming regional and am making sure this means I skip out on playing.

For Regionals TO's are prohibited from participating.
For casual level events, TOing and playing is fine.

A Muse has it correct. Store champs and lower (so, using a quarterly kit), the TO can participate. Regionals and above, no. But I do believe the Regionals kit includes a copy of each prize except for the trophy for the TO, so you still get the swag.

And if you're TOing for a Store Champ or lower, you should let people know ahead of time just to make them aware. You also need another person to be Marshall (basically a rules arbiter) who would make any rule judgements for a game that the TO is in.

It's all in the Tournament Regulations:

Quote

A leader [organizer, marshal or judge] may participate as a player in a Relaxed tier tournament for which he or she is responsible only if there is at least one other leader present. Additional leaders must be announced at the beginning of the tournament and are responsible for all rulings for games in which the first leader is playing. If two leaders play one another, the marshal is responsible for any rulings during the game.

During Formal and Premier tier tournaments, leaders cannot participate as a player. Leaders for Formal and Premier tournaments are expected to commit their full attention to overseeing the event.

Store Championships are "Relaxed Tier", Regional Championships are "Formal Tier", all other tournaments are at the organizer's discretion for Tier.