Be careful not to over-allocate value for that land.

From what I have learned so far, with my limited experience, you are accounting for a potential protracted vacancy, and should consider allocating some capital to update units when they turn over.  

I always allocate money going towards repairs.

In the example here, it seems to be very low due to all the various hidden expenses and buffers you have to allocate especially if it is  out of state (home warranty, property manager monthly and finder fees, capex, repairs, HOA etc).

First make sure that you figure out what percent of your portfolio will be allocated to different strategies (debt versus equity, commercial versus residential, core vs core+ vs value added vs opportunistic, etc.).  

We have had great success in allocating utilities to the residents. 

@Alex AllevaAlex - If you are currently living in the house and the total property taxes is $19,000 for the total 4-plex.The property taxes allocated to you as an itemized deduction should be $4,750. 

Hi David - Have you spoken to your accountant regarding how these expenses have been historically allocated for any financial / tax reporting requirements that you might have?

I am bundling this with another refi on a property I have held since 2015, but I believe the portion of the loan I am allocating to this property is $93k

I have about 200k that I can allocate to this from a 1031 exchange.