So, in short, a nice triplex can be purchased for the same price as a single family home, but yield double the rent profit.  

You could also look into construction/absorption rates of units in the area which will paint a picture of the supply levels in your market.

You can read about it here and hereSome pictures that i haven't post before: I admit that i did a bad job on estimating the rehab on this deal and ended up asking for all the help i could get from family and my..passive investors.

My question is:In the estimate (See attached picture) the first years insurance premium and the first years school taxes are included.

They might own multiple properties or receive a special discount having all insurance at the provider and your insurance rate is much higher for a single policy.Make sure not in a flood plain as those policies have gone way up in the last few years almost doubling or tripling.Many other things these are often overlooked.   

I just want to make sure it is legit to present a transactional funders POF letter, and do a double closing with these types of properties as I understand they keep the EMD no matter what

So I was wondering - do I keep looking to get into new places or double down on the areas we have experience with?  

I double the rent all the time.

Once you have an FHA loan you are not allowed to have another FHA loan unless relocating a great distance for work.Now that you have exhausted your Low Down Payment Options (Portfolio Conventional and FHA Conventional and FHA) you will need to use a Standard Conventional Loan and put 20% down to get your 3rd Duplex.The sky is the limit...you could continue to buy properties and build an empire or just stop there and enjoy more free time...I have friend who quit his job and just manages his properties now.Keep in mind that this 4 step process I outlined takes time (anywhere from 1 to 10yrs depending on the person) so keep the big picture in mind but don't let it stress you out too much.

Post the numbers so someone can double check for ya.