You first need to determine if the rental rises to the level of an "active trade or business".  Startup expenses only apply to an active trade or business.

If it doesn't rise to that level, the costs are usually capitalized into the Basis of the property.

If it does rise to that level, yes, I would enter the allowable amount as an 'other deduction' on Schedule E and if there are any additional expenses, create an Asset Entry Worksheet to amortize the startup expense.