Recommended workflow for using hardware synth

Hello all, I originally posted this on the hardware set-up section but realised I was asking the wrong questions so deleted it! Whilst not a proper ‘newbie’ I’m new to integrating my hardware synth (Roland FA-08) into DAWs in general. I’ve used just VSTs up to now, with my FA-08 used (with it’s built-in sequencer) to bash out ideas etc. which I then develop inside Cubase. So apologies if this is a bit of basic question!

Basically, I’m looking for the best way (workflow?) to integrate my synth into Cubase Pro 10.5 using all of its 16 MIDI channels & to apply Cubase or plug-in audio effects to each channel’s audio. I’m using the FA-08’s built-in 2-in-2-out USB audio interface.

Whichever way I do it (1. External Instrument as a Rack Instrument & 16 MIDI tracks routed to it or 2. 16 X separate MIDI/Audio track pairs) I still only have 1 single Audio track for all 16 MIDI channels by which I can monitor any audio effects I add. The ‘old skool’ method of 16 X track pairs gives 16 X Audio Tracks in the mixer, but since they all have the same input (the stereo output of my FA-08) it kind of defeats the object of having 16 separate tracks!

Whilst it’s unlikely I’ll use all 16 FA 08 channels, it’d would be good to use more than 1! As an example:

MIDI 1 - FA 08 Piano with Cubase Reverb
MIDI 2 - FA 08 Pad with Cubase Stereo Delay
MIDI 10 - FA 08 909 drum kit with Cubase EQ

I’d like to add/tweak various effects parameters as I go along. Using the separate MIDI/Audio track pairs lends itself well to this, but with just a single available Audio input I couldn’t ‘live monitor’ each different effect applied to its respective MIDI track - only 1 effect at a time.
I’m wondering how others achieve this kind of thing.

An obvious solution is to record the whole performance on each MIDI channel straight to an Audio Track as I’d then be able to add all the effects etc. I want, but then that gives me limited editing options once I’ve bounced the MIDI track to audio (perhaps that’s a good thing to avoid indecisiveness! :laughing: ).

The final (easiest?) option is perhaps to apply effects ‘at source’, i.e. use the FA 08’s built-in effects & leave the tracks unedited. There are lots of effects & they’re OK, but obviously not as effective, flexible & user-friendly to tweak compared to using Cubase &/or plug-in effects,

Perhaps I’ve answered my own question as I’ve written this, but I’d be keen to hear of any other methods that work well for others.

Many thanks…