I can't stress the importance of getting all your numbers, percentages and dates right the first year you have a rental property. Mistakes tend to exacerbate over time and if it's a few years before you catch that mistake, the correction can be $COSTLY$. So please, if in doubt about ANYTHING, ask! The only stupid question, is the one you don't ask. It's not like we learn this stuff through osmosis. I surely didn't and in my past have paid more than my fair share of what I call "stupid tax".
