I would suggest at least a pair of mics instead of just one, for live band recording.
The S/P B1 mic your thinking about is a nice mic for the money, but in my experience large diameter condenser mics pick up way to much room noise recording a live band.
If you like studio projects mics, I would suggest a pair of S/P C-4 Small diameter condenser mics.
I own a pair of oktava MK012 mics that do a nice job as a stereo pair.
Make sure your recorder has phantom power, you'll need this for any condenser mic.
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