So RUBS will not cut down total consumption IMHO.With RUBS, allocation is based more or less on square footage.

You can allocate them in any manner you choose to any properties you are purchasing.That your describing is perfectly fine. 

So if you are purchasing a house with land, you typically would try to allocate more of the price to the house, as you don't take depreciation on land.If your goal is maximum taxable writeoffs and you have a number of other properties, you may want to look into cost segregation (but it won't be worth it if you only have this property).Keep in mind that when you sell the property, you'll have to pay tax on the depreciation (usually a 25% rate).Be sure to chat with a CPA about allocating the purchase price in a sale, as you need to follow one of the multiple acceptable ways to allocate.Also, depending on how the rest of your portfolio looks and your timetable for holding, being less aggressive in allocating the purchase to high depreciation items may work out better. 

I do not want to allocate/spend any of those funds until the lease progresses - pay myself rent month by month from that account, in case of something happening or eviction etc.

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.