is there SCVMM Lite? or System Center Virtual Machine Manager for non-enterprises?
Not as such, but System Center Essentials 2010 has some virtualization management features that come from it.
With Office 365, can I use my own domain name?
What does Office 365 cost?
for individuals and small businesses it starts at $6 per month per user.
more information here: http://office365.microsoft.com/
also the fact sheet has detailed pricing.