I'm planning on buying a PA for my bands rehearsal place, with the budget of 750$.
I live in Sweden, but I'll most likley order from thomann.

I'll need a Power Mixer, two monitors and a cheap but yet good microphone (Perhaps 2 mics, depending on the price).
I've been looking at this http://www.thomann.de/gb/behringer_pmp_2000.htm, any opinions?

It costs alot, but I guess I should get the quality stuff? Right now I'm running 2 microphone through some sort of kareoke box into a guitar amp with a blown speaker

Also, what kind of mics are best for avoiding feedback loops? That's a big problem for my band.

Any ideas?
If the monitors can be kind of cheap(?), then I might afford a shure sm 58 microphone, and our other singer (who only does harmonies) can use the other mic, which actually is pretty good.
Is this just for your rehearsal room, or are you hoping to use it for gigs too?

Hell, if it's just for one or two vocalists in a practice room, all you really need is a mic and a powered 10" speaker. Certainly €750 seems like overkill for a basic rehearsal PA.

For mics, the best cheap mic I've come across is the Samson Q7 - it's absolutely on par with the SM58 (in both sound quality and durability) for only €30.

If you wanted to spend a little more, the Blue enCORE 100, Electrovoice N/D 767 and AKG D5 absolutely destroy the SM58 in my opinion (and yet they're all cheaper!). Don't buy into that 'industry standard' crap.
I wouldn't go for a powered mixer myself, I would rather do a separate mixer and poweramp. especially if it was going to be a gigging setup. that might just be me though.

if all you are looking to do right now is get something set up for a rehearsal space, I would agree with kyle and just go for a powered speaker. a simple mixer (I have a peavey, but there are quite a few out there) and even just one speaker will do you for a practice space. shouldn't be very hard to pick up a half decent setup for a practice space for your budget.
I used to use that Behringer Powered Mixer in a band years ago. That little sucker was louder than hell and had great onboard effects. We used them with Behringer 15" cabinets and had a pretty good vocal sound, but we only used it for vocals, not anything else. Every now and then we'd run a bass DI into it and it sounded pretty decent. I'd recommend it
The thing is, we need louder vocals at out rehearsals, y' know, hard hitting drummer, but I don't know if we'll ever use it for gigs later on.

The feedback is also a big "!", that's a reason why we can't turn it up.