Does anyone know a keyboard shortcut to move your cursor position to highlighted "found" text?
Ex: I press Ctrl+F and type "foo", this will bring me to the first instance of foo in the document.
Now I want a keyboard command to place my cursor next to this instance of foo so I can edit the text that is next to it.
I think I don't get your problem, but that's really much the default behaviour.
Anyway, I recommend incremental find (default keybinding is ctrl+i).
It searches from the current position and the panel is closed afterwards (which is what I want all of the time).
If you press escape in the search bar, the cursor does not move. If you press enter it jumps right to the next occurence.