I'm building a cabin in upstate NY where heavy snows are common. I have access to many different types of wood to use for siding including Hemlock, Pine, Larch, maybe Spruce. How do I determine what qualities to look for and which species has the best qualities for siding?

Congrats! In Canada, the most common is cedar. I see that is not on your list, Pine works great for panelling, and you can use the logs for cornering, edges and even for beams and supports. When cleaned up it can really look awesome, I'm not too familiar with Hemlock so maybe that is a better wood. Pine is a knotty wood that ads character to structures.
Good luck

If you are looking for low maintenance you need to include something like Hardiesiding. It is like Hardiebacker for tile floor and wall but comes in siding lengths. If it has to be wood then go with cedar.