With the bullets, i mean this:
(Just an example)
Imagine thousands of spaceships, shooting lasers (or something) all the time, I would imagine that I would instance all bullets, wouldn't I? In that case I don't really see how I would split up each bullet up into a chunk, as they could go anywhere...
You are dealing with the problem of what objects worth drawing, One solution is keeping a buffer large enough only to draw the bullets near the camera and dynamically insert / remove the elements. You can specify the number of instances inside the buffer.