That said, there are some things which stand out in your analysis.You're only budgeting 1% for a property management fee. 

So the 20-25k budget for rehab is no longer feasible. 

The high utility costs are built into my cashflow budget and I'm still in good shape so for now, I'll deploy my cash on hand in other ways.

I see you're only budgeting 7% for property management. 

We budget for maintenance but don't set it aside, we pay it out of pocket when needed.

You should budget for your purchase price times 2.74%.

It's hard to gauge the reasonableness of these assumptions without more info on the property (address or at least zip code, age of the property, condition of the various components such as roof and foundation, among other things).I see you've budgeted $0 for repairs. 

But as Jeff said, since you won't have someone watching over you and you will have essentially a $100k checkbook its real important to set your budget upfront and stick with it vs just spending as you need $s. 

Budget price for a property: $200k maxCAP Rate: essentially my mom wants around 6-8%+ return.Ultimate Goal: to have cashflow $40k+/yr within the next 15 years.We also are not interested in the buy and flip strategy as my mom wants passive income through renting out.

I have been doing research and see that either a designer charges based on an hourly rate or a % of the over all budget.