Nv: MP mod is currently looking for testers, and you can sign up on this awesome Fallout terminal - theme website. Items, however, are saved to server and will get deleted when the mod team wipes servers during development. If you want to use inventory, you 'll be safe to do so - you become invulnerable when it's open. Players won't be able to use VATS while using Multiplayer mod, as it's been disable. If the host leaves the region, then a new host is choose, and NPCs will resynchronize to them. That means that if a player connects to a host that has killed an important quest - centric NPC, then any relevant quest could fail. Reddit user and modder Nvmp_corporal explain how it work, saying all NPCs in certain region will be synchronize to host, but quests won n't. New Vegas: Multiplayer will allow you to get thrown out of post - apocalypse casinos with your friends - or attacked and killed by Deathclaws, if that's more your speed.
Modders plan to change that with the Multiplayer mod for Fallout: New Vegas, which they are currently trying to find testers for.
You can travel to the lands of Tamriel with friends in Elder Scrolls Online, but there isn't multiplayer option for players wanting to roam Obsidian's take on post - apocalyptic RPG.