For owner operator, is truck note considered equipment rental ?

What's the note for? Purchasing the truck? Or renting the truck? If you have a loan on the truck to purchase it, then it's definitely not a rental. As far as the seller of the truck is concerned, you already own it.

NO ... the interest on the loan is entered as interest paid.  And the principal portion of the note  is recouped thru depreciation of the asset ... you may NOT deduct the entire cost of the rig as one entry.