Please be careful with "acoustic" foam. That stuff dampens a frequency range, that barely any room has a problem with. Look into room acoustics before treating your room - it will save you money, time and a lot of nerve! Broadband mid- and low-frequency absorbers with reflective surfaces in the corners of your room should do way better than plastering the walls with high freq. absorption.
Also: Keep measuring the impulse response of your room (for rt-60 and frequency response) after each step you take in acoustic refinement.

The ZED-R16 seems like a pretty cool thing, if you really have the need for 16 simultaneous inputs. In my experience, that's more common in live environments than in the studio. But being able to record a whole band at once is a nice thing to do.

Why wouldn't you use your live mics in the studio? If they sound great on stage, I believe they should sound great in the studio. Also: You already know them.

Your mixing room seems rather small to me (it's 8x8 feet, not meters, right?). Normally, I'd suggest using two pairs of monitoring speakers of which one is positioned at least 2 meters from the listening position. But in your case, one pair of speakers will have to be enough. Don't be afraid of using a small pair of speakers and a subwoofer - if positioned correctly, this setup sounds just as real as fullrange speakers.

I hope, this is at least a bit of help.

Thanks you, I have been reading a lot and talking to people about the acoustic treatments, its a lot more complicated than i thought. Looks like more research until i figure out what i will be getting.

With the ZED-R16, iv looked into that because i have heard good things and i think it would be great with the 16 channels for the flexibility. I have been looking into a Focusrite Liquid Saffire 56 computer interface as well. One of my friends that works at a local music store says that is the way to go. Im just looking for something with 8 or more inputs that will give a great sound.

Well the mics i have for live are decent quality, but i would like some better ones for recording. The only thing i would really need would be a good vocal mic for recording. I am going to get better mics for the studio to produce better recordings.

And I think i am going to Make the Mixing room 12x12, a bit bigger but its all i can do so ill have to make it work.

Thanks for your input