So at this point in my journey, my fears are gone because I now know that I can afford the monthly payments even if it sits vacant.

The 2008 crisis was unique, in that it was caused by people who had bought assets they couldnt actually afford due to underwriting guidelines at the time. 

NAR is also working closely with ALTA and MBA whose members are also greatly impacted by county closures of recordation services.Multi-familyNAR joined a coalition letter(link is external) representing for-profit and non-profit owners, developers and others involved in the provision of affordable rental housing.

Are there other (more affordable) sites that I can use to find out about market trends, city data etc.?  

Are there other (more affordable) sites that I can use to find out about market trends, city data etc.?

I have enough $$ to put down payments on one property per year (roughy) and max out my IRA contributions, so this will probably be the only property I can afford this year and still have enough cash reserves to be safe (we keep 5k per property and 6 months of our mortgage on hand as a lowest acceptable cash reserve baseline).

It sounds like you found an affordable property that already has one great tenant in place...trust yourself.  

Your TSP can double as cash reserves, and the freedom it provides you by ensuring your long-term retirement goals are achieved, means that you can afford to take more risky bets on other investments.

If I wanted to buy this property I wouldn't have any grounds for eviction and I would be stuck with these leases for another 9 months losing money every month which I could afford but I'm not sure if it's worth it.

Some buy a beach house that can't afford it.