Plotting the function $f(x)=x^{1/3}$ defined for any real number $x$ gives us:

Since $f$ is a function, for any given $x$ value it maps to a single y value (and not more than one $y$ value, because that would mean it's not a function as it fails the vertical line test). This function also has a vertical tangent at $x=0$.
My question is: how can we have a function that also has a vertical tangent? To get a vertical tangent we need 2 vertical points, which means that we are not working with a "proper" function as it has multiple y values mapping to a single $x$. How is it possible for a "proper" function to have a vertical tangent?
As I understand, in the graph I pasted we cannot take the derivative of x=0 because the slope is vertical, hence we cannot see the instantaneous rate of change of x to y as the y value is not a value (or many values, which ever way you want to look at it). How is it possible to have a perfectly vertical slope on a function? In this case I can imagine a very steep curve at 0.... but vertical?!? I can't wrap my mind around it. How can we get a vertical slope on a non vertical function?

No, we don't need two vertical points. By the same idea, if the graph of a function $f$ has an horizontal tangent line somewhere, then there has to be two points of the graph of $f$ with the same $y$ coordinate. However, the tangent at $0$ of $x\mapsto x^3$ (note that this is not the function that you mentioned) is horizontal, in spite of the fact that no two points of its graph have the same $y$ coordinate.