you can usually find a pretty good used 600cc sport bike in the $3500-$5000 range. check out ebay or cycletrader.com. you might also find a place that sells used sport bikes and sit on a few to get a feel for which ones have enough room for a guy your height. you don't want to be cramped up or it won't be much fun to ride. my first bike was a '92 Suzuki Katana 600, it was an ugly thing, but it was dirt cheap, i never had any mechanical problems, and most importantly, it allowed me to learn how to ride without fear of damaging a nice bike. as far as insurance goes, my first policy through Progressive was pretty affordable. i can't remember the levels of coverage, but it include comprehensive, collision, bodily injury, medical, and roadside service for about $450 per year. check out some of the insurance websites and get quotes, Progressive and Geiko (among others) allow you to change the levels of coverage and compare prices.