Hi, I'm new in this field and I have a project in mind that is probably beyond a beginner reach, but I am willing to learn and build it step by step.
I have a background in programming, but I'm a newbie in the hardware aspect, apart from some basic soldering.

The project I want to create is very similar to this one, from forum user Pensive: https://www.pjrc.com/beats-by-teensy/
Although I think he didn't finish the project.

If you are familiarized with the Akai MPC that is basically it.
This are the specs I have in mind:
- 12 bit audio sampling.
- Manipulate samples: trim them and changing the pitch.
- Assign the samples to 8 different buttons and being able to trigger all of them at the same time (polyphony).
- 96 ppq sequencer with quantize and swing functions and BPM variation.
- Store sequences.
- MIDI controller.
- If possible, the input and output would be 1/4 jack (line) and stereo.
- 16x2 LCD.

I have some doubts about feasibility of it.
First of all, I don't know if it is possible to handle all the sequencing work with the Teensy. I have thought of using a Raspberry Pi, but I'm not sure whether a microprocessor would cause latency problems.
Another issue is the sampling rate. I know is like going backwards, but I like lo fi samplers. And as far as I know the Audio board records at 16 bits and dropping the bitrate is not an easy thing to do. I know too that the Teensy 3.6 has the capabilities to do sample at 12 bits by itself, but I don't know how easy would it be to use the built-in input and output. I was looking up something like the ISD1820, but I don't think it is compatible with the Teensy.

I was thinking of something similar to Pensive's setup , with a Teensy 3.6 instead the 3.1.

Summing it up, do you think it is possible to achieve such a project? And if so, what do you think the requirements would be?

Thank you for your help!