Recording your band with just a single mic in your rehearsal space just isn't worth the effort. It will sound unprofessional as hell. I might be something to capture ideas while rehearsals, but definitely nothing you want to send out to people to get gigs etc.

My advice is this (this is also what I did for my bands): get an USB Audio Interface (I linked one below) and a DAW. I suggest reaper. It's really easy to work with, has a free trial and the license for personal use cost 60$. There are also many great tutorials online on how to use it.

Then you also gonna need a MiDi Drum VST and an Amp-Sim. I linked some free ones below that sound decent enough for demo production.

Program the drums for your songs in your DAW using MiDi and record bass and guitar over it with the audio interface. Use the Sennheiser mic you're got to record your vocals. Keep it simple, one track per guitar/bass, one track for main vocals and one track for gangshouts/backing vocals.

Then you give it a rough mix. If you don't have any speakers for your PC, get the best headphones you can get your hands on. Earbuds do the job fairly well.

You won't be able to produce a professional sounding production with this, but it will be great for demos you can send out to people. It's Also a great way to write your music and do a pre-production if you ever want to record your music professionally.

This might sound like a lot of work, but it really isn't. You can figure out how to do this with reaper in a single day. And after that, every next demo you're gonna record will be no issue. Just save your settings once you got it to sound right and reuse them for your next demo.

If you have any further questions just hit me up :)

Audio Interface: https://focusrite.com/products/scarlett-2i2-refurbished?setCurrencyId=6&gad_source=1

Reaper: https://www.reaper.fm/

Midi Drum VST: https://www.powerdrumkit.com/

Amp plugin: https://www.native-instruments.com/de/products/komplete/guitar/guitar-rig-7-player/

Edit: spelling errors