So,
@Naquat , I cannot speak to Hemisphere specifically but my best guess is is that you select the “source” mic when using it. Kingkorg will hopefully confirm but my guess is you can choose any model from any source mic.
Obviously, results are going to differ, depending on the actual source mic used and conventional microphone wisdom will apply. A dynamic source mic is going to work better/more accurately model similar mics and will probably suit for example, close miking a snare, better than a condenser due to SPL limitations etc. However, in principle, I think you should be fine to experiment.
The “benefit” of using a B-1, apart from not having to pay an arguably extortionate price for a simple basic large diaphragm condenser, is that condensers are very sensitive mics, with a wide FR and transient response (generally). So most models should be effective, albeit in the light of what I have already said.
I don’t think there will be a software limit on the number of instances of the Hemisphere plugin that you can run simultaneously not least because it is common practice to use a mic modelling plugin on audio tracks after the fact (post capture) in order to benefit from the tonality flavours that modelling can offer during mixdown.
So, TLDR: I think it’ll be fine and you should be ok with what you want to achieve but let’s get the hemisphere confirmation from Kingkorg.