It's been my experience that your rate may be a little higher but it seemed a little easier to obtain compared to a regular loan.

I have a small amount of knowledge in real estate investing but I'm reading and researching on a regular.

We own several investment properties, manage for some clients, and represent buyers, sellers and investors regularly!

I average around $200/unit/month for regular operating expenses (many of which might not show up in first few months of ownership) and use around $50/unit/month for CapEx.  

You should start attending regular meet ups and an investment club too.

Would it be better to get a regular FHA loan and use a HML for rehab cost or just get a 203k loan?

In your experience, aside from local REIA groups, what are some of the best places where I should regularly be investing my time?

Zillow and other sites will have some too of varying quality.Municipal governments may have properties tagged as rentals or owner-occupied if they conduct regular inspections, but that is inconsistent in Pennsylvania.  

I don't anticipate needing to add or spend funds from the account on any regular basis outside of paying the property tax on the land each year.Anyone have any thoughts on the subject to share?

A short sale will get home owners credit, a regular payoff will not, as Wayne said, about 50 points, done and done.