Your choices are fine. Just be aware of one thing.
Depreciation is not a permanent deduction. When you sell or otherwise dispose of the property, that depreciation taken has to be accounted for. If you sell the property, all depreciation taken up to the date of the sale is required to be recaptured. You will pay taxes on that recaptured depreciation in the tax year you sell the property. Recaptured depreciation is taxed at the ordinary tax rate anywhere from 0% up to a maximum of 25%.
Since long term residential rental real estate commonly operates at a loss every year on paper at tax time, taking the SDA to claim/deduct it all in the first year will most likely make no difference on your tax liability. So I would suggest you check it both ways. If there's no difference, then there's no benefit to taking the SDA in the first year. However, in the year you sell the property, there's a good chance the recapture *will* make a difference on your tax bill in the tax year you sell the property.
Recaptured depreciation is added to your AGI in the year you sell and there's always the possibility it will be "just enough" to bump you into the next higher tax bracket.
