File from wave doesn't have to be mp3,Cool Edit Pro uses waves.....it's not hard to use...actually,you right click and on track one in multitrack....do the file from wave....then go to track 2..click R,then select the red circle and the beat will play while recording your vocals.Then if you want to do adlibs...all you do is go to track 3 etc...then click r and record..and the beat and previous recorded lyrics etc and you can record to make it sound dope.For example, the hook, or or add some sgit like uhh huh...what..It sounds wack in text...but adlibs can add a lot to a track.I suggest you get the Antares Mic Modeler,which allows you to make your mic sound like another mic(higher price)...which is pretty dope..and you can add bass,treble etc..Now to access that you click Fx...then it would be under directx.then click the plugin..then to the right screen you click the plugin,and click properties.Then it opens in multi-track,I highly suggest getting that plug in.After you are done with the track you go to mixdown?allwaves...then you can edit any other small things that you didn't on multi-track...pz