At that point, I want to re-evaluate the market and determine if we're happy with that, or if there should be some small increases after.

There is so much to evaluate, and answer the "is it worth it" for yourself.  

Performing comprehensive financial evaluations and due diligence on every property is necessary to precisely ascertain its potential for cash flow.

You need to know what to ignore, what to give more weightage to, and what is missing from the data.Different appraisers reach quite different results after evaluating the same data.

Investment Strategy:Buy and HoldInvesting herebecause: Potential to Appreciate in Long Term (10yrs+), want to build NetWorth, Affordable in my budgetYear 1 Evaluation: Gross Monthly Rental Income = $2,042.50 Monthly Cashflow = -$76.05 GRM = 12.79 Cap Rate = 5.12% CoC ROI = -1.11%Hoping that theinterest rates go down so that the monthly cashflow becomes +ve.

That’s not how investments are evaluated and compared by most people, and def not by most professional shops. 

All of these factors are very important in evaluating a question like this - always best to get the clear and complete picture!

Evaluate your position and exercise your right to make a choice that suits your over all needs. 

Where do you find the data and evaluate it's reliability? 

I know the market is very tough to crack but I have some pretty good resources and I'm very good with evaluating a deal.