Ravenswood is a high priced area, expect a budget of $800k with at least 20% down

Improving the property will likely require budgeting a percentage of the monthly rent for the materials. 

I've noticed that there are new townhouse and single family home developments coming up in the northeast Denver area in gateway that are within my budget (275-350k).

I would assume you would want to budget for roof 25 year life span, hvac 20 year life span, appliances and hot water heater 12 year life span, bath and kitchen remodel 15-20 year life span, etc.

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%.