Might ought to return it
If you don't have 3ph power, it's another $200+ (looking at converters on eBay right now) to get a single- to three-phase converter so you can run that motor. Yes, the VFD brings some awesome capabilities but the VFD costs more than you paid for the motor itself. If you don't need those fancy features a plain converter will run you about fifty bucks.
I'm one of the few people I know who actually has three-phase and I don't have a farm or assembly line in my garage. I have a house built by TVA when they wanted to build a model all-electric town, so I've got enough amperage to launch a Space Shuttle. And I don't have a single three-phase motor in my workshop.
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