Yep thats correct. Best to use a couple of powerheads (at least) to do it for better circulation and as a backup in case one fails.
You can still use the HOB as well. Personally I dont agree with the regular thinking that external filtration (such as canister filters, etc) causes nitrates. If you think about it whatever goes into the filter comes from the tank so if the filter wasnt there it would still be the same. Just make sure you keep the media cleaned regularly. Personally I would take out any bio media as your LR covers this and just use foam pads (washed every couple of weeks) and chemical media (phosphate/nitrate removers).