first deal....How did do?

[Shane Lyon]

I bought a single family home for $79,000.  $3500 down, three year balloon.  4.5% interest rate.  Payment is $405, taxes, $262 and insurance is $154 a month.  total of $821.   Home is appraised for $91,000.  Will rent for $950.  It has 3 outbuildings that I will use for storage (main reason I bought the property).  Plus there is plenty of land to build more sheds for more storage and rent them out as well.  

Not much room for cashflow because i did not consider insurance would be so high!  How did I do?