Just wanted to thank serr for the reference to ASIO4ALL.
I am using a TASCAM US-1800 to record, and some monitors hooked up to my computer for playback, and the two pieces of equipment are on opposite sides of the room. The ASIO4ALL let me enable both devices, one for input, one for output and there is little latency (i.e. I know there is some latency from a technical perspective, but I can't hear it). My machine is pretty beefy too, so I'm sure that helps.
Thanks again, worked like a charm and was super easy.
(I am in no way affiliated with any of the products mentioned above, just very excited that somebody had an easy solution to my problem
)