Multiple Characters and Attributes

How do I allow the user to choose any of 5 players that have variables such as Magic, Strength which can be called to influence different aspects of gameplay

You first need to make 5 Characters, each one representing each hero (or player). The next step would be to add skills, abilities, a level up system and as many mechanics as you like. Bear in mind though, that because your game is multiplayer, you need to keep Replication in mind. Then, override the onAnyDamage event in order to make calculations based on the stats of each hero.

Thanks for the help, but the thing I was not getting was how to add those stats to each player

Man, you need, good attribute system. Check out marketplace there is a lot of good stuff. And a lot of incoming