30 year fixed is a good idea if you plan to stay there forever, but keep in mind if you sell after 2+ years, $250k ($500k if married) of your capital gains would be tax free.  

A few highlights below to frame the situation:I am in my 30s, married, with our 5th child on the way.My learning curve is shorter than most:  I work full time W2 developing for and managing a 1,500+ unit low-income housing portfolio.I have access to capital (initially up to $75k friends and family, up to $40k of my own).  

Currently, I'm a master's student and have around 50K (70K by next year) in student loans (I don't have to start paying on this till I graduate ~2years, but does still gain interest at around 5.4%), just bought my primary residence 114K, have Car debt 18K, and my fiance (we get married in March) has about 55K in debt.50 + 114 + 18 + 55 = 237K all together currently.   257K if you include future incurred student loans.Currently I have about 4K in the bank (I expect to go down to 2K when the wedding is over), and I can realistically save about $500 a month currently with a job paying 50K/year before taxes.Once I really start to think about the amount of debt I've amassed, I start to get discouraged about the financial possibility of investing soon .

You can use the primary residence exclusion of sec. 121 and sell it at any time and take the first $250K ($500K if you're married) in profit tax free.

Also, we are getting married in May and then moving from Miami, but we don't know where to yet.

Once you have lived in a property you own for 2 out of the last 5 years you can sell it and take the first 250K (500K if married) in profit tax free.  

I've done pre-foreclosure sub2, where I caught up the payments and took over, but not in BK.Is it just the sole owner or is he married?  

If you meet this requirement, then you can take the $250k/$500k (if married filing jointly) tax free under Sec 121.

He isn't married and his only next of kin was his mother who passed away a couple of years ago.  

My brother has moved out and my father married a woman who had him add her name to the Warranty Deed.