Hi Psy,
Welcome to Demonbuddy! I recently started multi-bot so I might be able to help you get on track. Although I am still searching for what I have in mind, this what I can say:
You need to decide if you want to bot with VM or not. (Yes I know you said without using VM. There are many here that would use VM for different Client ID purpose to protect from being noted by Blizzard. There are many here that feel VM takes a lot of resources.)
So if you strongly decides to pursue multi-bot without VM:
Simplest way is to have enough drive space (hopefully you are using SSD) to copy multiple Diablo III and rename the folder. Then create shortcut to different diablo III.exe (not the launcher).
In the shortcut add the following to end of the target: -launch
This way you can run many game client as your hard drive allow.
There is isBoxer/Innerspace:
This is not part of Demondbuddy but for those that like it clean!
This does not take more resources like VM but it is virtualization which is allowed.
The company that build that software will charge 15 for 90days or 50 for a year. You can buy more years to get discount.
I prefer this way. As I have tried both ways and have vertex 4 256GB SSD and vertex 120GB (D3, DB, and any other files for games), I found isBoxer makes the windows layout manageable and also playable as I am able to control all 4 accounts if I decided to play manually.
Demonbuddy now is much smarter compare to months ago, it will be able to read the process/windows of D3 and you can select which to run. So you are pretty much set.
IF you want you can also check out DB_RUN to have a single executable to take care of launching game, login, run DB, start DB with correct profiles and routinely check for error to restart --multiply all that by 4 accounts 4 bots.
My set up is trying to make sure 4 accounts 4 bots are in leader/follower party mode. And have this going 24/7 whenever my computer is up.