2 iCloud Accounts on 1 iPhone?

Yes, it's possible! It's really easy to set up too.

*Go to Settings
*Mail, Contacts, Calendar

*Add Account

*Click iCloud and then enter the info in. 

It depends on what you want the account on your iPhone for but you will have the option of syncing your Notes, Contacts... It's easiest to have all your info on one iCloud account and only use the 2 accounts for emails.