Do this deal add up?

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I just purchased a 1br house for $53K. It was a Fannie Mae repo (in my town). Fannie Mae painted, carpeted, repaired the roof, and purchased new stove. I purchased a new fridge and wall AC, mini blinds, plumbing fixtures etc ($800 worth). I still need to scrape and paint the outside.

It just rented for $525 w/$400 damage deposit. My payment is $414 including taxes and insurance. I pay for garbage service@$15/mo.

This is our first and I'm wondering if this deal is too tight, just not enough cash flow. Considering 10% vacancy rate, ??% maint, repairs, and ???.

Also, I plan on doing the property management/repairs, so do I figure a percentage for that? The area is stable but not growing. Other houses on the street are $50K to $70K.

Does this look good and I just have a small case of buyers remorse or have I screwed up?

P.S. Talking about this purchase was cool, but now that I've done it. . . I have moved out of my comfortable rut.

Thanks for any comments/suggestions/opinions

Mike