The concept is great, and that's half the battle.
The lyrics aren't too bad for a beginner.
The flow wasn't really on time for the most part, and most rhymes didn't go past 2 syllables.
That's very common though, and those things kind of fix themselves as you gain experience.
Keep at it, and keep posting here as you improve.
Edit: I accidentally clicked the next word in my PS3's text prediction box. Typo.