the TC, if it s a high end one will have dual or single mono in /stereo out it's up to you how you use it.
I used to use mine as twin engined dual mono in /stereo out, just set up reinsert with the right ins and outs and save the track as a pre set.
As fuse said, doing the detect latency ping on a bypassed or dry signal will mean reaper will auto compensate the same as it does for any other plugin
to be honest on a reverb a bit of latency is actually only a pre delay so not a big deal anyway.
I used to do mine digitaly, however I started working at 24/96 and my M3000 only did 44/48 same as my Lexicon 300 so I bought the M6000 verbs and a powercore
MC