What am I supposed to do to maintain my iron? Also, I saw that the cheap iron tip started tipping/rusting. Also the heating reservoir started to rust, I guess, due to the environment because the soldering iron is in a garage drawer. Is that normal?
Depending on the environment your iron lives in may determine the maintenance it requires.
The stainless barrel that retains the tip gets a lot of thermal cycling and some flux splatter so discolors with time.
It's not a concern unless you want it looking like the day you bought it.

Most of the modern irons are now of stainless construction and rusting is not now such a problem.
Tips to heater element fit.
This is were you can get into trouble IF you don't change/remove the tip from time to time. The fit clearances can be small and failure to remove or change tips from time to time can result in a stuck tip that when attempting to forcibly remove it could result in a broken element.

If your tips are a loose-ish fit you won't have a problem.
Some assorted tips I have don't bottom on the element when installed and the lock ring tightened, so they won't work unless you provide some way to bottom them firmly.
I have a second handpiece of which the tip retaining barrel is slightly shorter and that's my workaround for the tips that don't quite bottom onto the element. Mix and match.
