Would it be correct to say that the condition for a particle to be in uniform circular motion is that there is a net force FF acting on the particle such that
$$ \mathbf{F}=−\frac{mv^2}{r} \mathbf{\hat{r}} \,.$$
where m and v are the mass and tangential speed of the particle, respectively, and r is the radial distance from the particle to the point about which it is performing uniform circular motion, with r^ being the radial unit vector pointing radially from this point to the particle.
I think your above statement is correct for an Uniform circular motion.
But afterwards you apply it to a body rotating in a vertical circle ...which of course is a motion in a circular path but the action of gravitational pull on the particle changes the energetics of the path.
As the body moves up its potential energy increases and this must be at the expense of its kinetic energy:
Therefore if it has a velocity say $v(l)$ at the lowest point it must get reduced as it proceeds further up on the circle and if it reaches the top point the velocity must have reduced such that the change in kinetic energy must equal to the the increase in potential energy i.e.
$2rmg$ if mass of the body is m and radius of the circle is r.
If $v(t)$ is velocity at the top then
$$\frac{1}{2} m \left( v(l)^2- v(t)^2 \right) = 2rmg \,,$$
and this situation leads to change in speed of the body at each point of time in its travel.
So, its a case of Non-uniform circular motion and your above statement can not be applied in total.
However ,if the body is moving on a circular path the force needed to maintain its path i.e. the centripetal force will always be acting including the lowest point and the highest point -
the tension in the string will be different -as the tension will represent at each point a force proportional to square of velocity (including a component of weight)...the tension will vary throughout the motion.
If you wish to have tension to be zero at the top -it will mean that the gravitational pull will provide the centripetal force and the observer sitting on the body will not feel the force - a state of weightlessness. The crossing speed at the top will be such that
$$m \frac{v(t)^2}{r} = mg$$
Really this happens in the case of earth's satellite moving on a circular path and the centripetal force is provided by the gravitational pull and the man in the satellite does not experience any gravitational pull- a state of weightlessness.