Have the drummer play and move the mic around the room in all sorts of different positions until you find the one that captures the whole kit. With overhead micing alone you'll really lose a lot of the kick and toms.
Having a well-tuned kit and a consistent dynamic player would be critical.
I second what rvdsm said, try to find a spot that captures the entire kit. It may take some time but you should be able to find a spot that balances out the entire kit. Once your ear hears the kit the way you would like to record it, slap a mic there and see what you come up with.
Never tracked drums with one mic, sounds difficult. Good luck and let us know how it comes out.