UPDATE: We replaced the WordPress default editor with an advanced one to fix the issue, also had to empty my cache and use a more up to date browser version to view any of these features. Marking as resolved for now…
I primarily use Firefox but I noticed that if I use another browser (Chrome, Safari) and change the Theme, I can edit previous posts but still not create a new post.
The only Active Plugins that I use are: Akismet, Anti-Malware Security and Brute-Force Firewall, Theme Check, and TinyMCE Advanced. Ive deactivated them all and nothing changes on the current theme 1.8.
Got the site back up by changing the name of the plugins file on my Cpanel, now it’s like you say Mort3n, weeding out the problem child. Thank you all for your support and helpful assistance with this!