This spell can be used with your own spell slots if you have them, but only at spell level 1.
I think this is incorect ...
Unless i remember something wrong, spells you get from Magic Initiate feat are given to you to use for free (without spellslot cost) once per Long Rest and thats it.
Unless the spell contains some re-cast feature by itself, like Hex do.
Does the same rule apply if you take your own class as a magic initiate feat?
I believe you cant do that.