It takes quite a few more generations of incestual relationships for such grand scale health complications to occur. You're likely to have a healthy baby, but the social and emotional ramifications of the relationship will be difficult to deal with.
It's a myth that incest babies are born deformed. But I think they are at risk for more health complications, The main problem your child will have is mental, if you tell him/her about the situation when he's/shes older. If I were you I'd probably not tell the child it's an incest baby. And possibly move away from your family.