Make any recommendations I could to save cooling costs, even temporary stuff like a blanket to cover the windows.

I factored in property management at 10% as well as capital expenditures, maintenance, sewage, etc.Granted, I am aware that the tenants will likely cover their own utilities; plus I don't live in Vegas, so my estimates may be a lot more conservative than what the actual average amounts might be.

You have to bring enough cash to cover the agent commission and closing costs in adiition to taking on the mtg.

I just paid about $2k to do a whole house but that included painting the walls a lighter color and repairing all of the small cracks and holes from the previous owner hanging pictures and shelves all over the walls. 

Assuming the place could be rented for $2800 per month, is  the resulting $350 profit (based on all my guesses) enough to cover the things like putting money away for repairs and whatnot?

At a value of 360k your rent is far below what is necessary to cover long term expenses.

There are a few issues to be mindful of here: If the husband will remain on the property you may need to "re-qualify" him ensure his new debt to income ratio can still cover the rent. 

Based on pictures we already love the property and location and the ideas we have for it.

If you are really that worried do an inspection now with pictures so you have evidence if he does further damage.

. $20k per month means you have at least $7k per month in mortgage payments covered. 5 mortgages of $110k ($150k minus 25% ($40k) down) would only be $3,000/mo even at 5%.