mics & monitors
everyone's voice is different. what mic sounds good on one person often sounds terrible on another. if i were you, i would go to yr local audio shop with a set of headphones you like and are used to hearing your voice through and try out as many mics as you can. see if you can't use the preamp you're thinking about buying.
in a situation like that, where you get to compare apples to apples, the nuances of each mic will be easily discernible. since it sounds like you will be recording mostly yourself, find the one that works for you. don't be shy about it. walk into that store and rap for an hour or more. try everything in your price range. there will be a few that stick out, guaranteed.
also, the monitor and room treatment issue is really all the same thing. what's important, no matter how treated your room is or how cheep/expensive your monitors are, is that you learn how those mixes translate into the real world. i.e learn how your room actually sounds. for folks on a budget, this is always the best advice.
mix. listen on every stereo you can get your hands on (cars stereos, boomboxxes, home bangers, computer speakers, the system down at the club). repeat. pretty soon you'll know what happens when the bass sound like "ahh" in your mix environment but like "ehh" everywhere else and be able to mix accordingly. or, you could spend $400 of your budget on 703. if you've rented a space for your studio, consider it. if it's your bedroom maybe not.
krk's are great in that price range, by the way. it's your ears that will make what you do kick, not $2000 monitors. good luck.
peace.
-sam