Yes you can do that, as long as whatever email library you're using supports it. If you're not using one, you should be!
No, 5 files won't be too much for your server unless you bought it in 1993.
Hopefully your lib won't need a file reference - you can do something like:
$myEmail->attachData('file.name', 'mime/type', $data);
If it does need a file path then you could use a php://memory file:
$f = fopen('php://memory/myfile', 'w');
fwrite($f, '...');
fclose($f);
$myEmail->attach('php://memory/myFile');
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