Welcome...
Lots of people will swear by Fruity Loops (especially in the hip hop world), but I prefer the original (yep I said it FL fanboys)...
Acid Pro. I make hip hop too, and I haven't seen a more capable program that is easier to use than Acid. You can make your instrumentals, or record multitrack - although for vocals, I prefer using Audition. Here's what I do...
Make my beat in Acid, mix it down to one wav file
Record my vocals in Audition
Mix the vocals, and bounce them down to one or two files (sometimes I do the verses and the hooks separately)
Import the vocals back into Acid, so I can then fine tune the beat to the vocals
Render it all to a wav file in Acid
Master it in Audition*
**I don't claim to be a professional at mastering, nor that Audition is a dedicated mastering tool, but I make the tracks sounds full, clear, and louder than the original mixdown comparable to "professional" masters - and it's free, and fun for me to do it**
Good luck and check me out...
OKMusic | Brand-new Music Social
And you can get a free, version of Acid (it's not Pro, but it's free) here:
http://www.acidplanet.com/downloads/xpress/