@John M. - what are your concerns exactly?
Things I noticed:
(1) Your ARV was mis-entered.. I believe you're missing an extra zero (240K, no 24,000)
(2) Are you owner occupied for the FHA loan?
(3) Are you locked into that mortgage rate? I only mention as I heard rates are going up (something to think about)
Otherwise, numbers look good. If you are living in one unit (I suggest the smallest, to maximize your rent roll), then the other 2 units should pay your mortgage letting you live there rent free.
Go for it!
@Mike B. -Thank you for your insight.
1)My concerns were that I could not get an accurate after repair value.
2)Also, the whole street is a row of multi-families (triplex). All are out of date, but a former landlord sold a set of ten of them. There are other developers buying and making repairs.
3) It did not seem like I could easy refinance after 12 months. (Although that is mainly because the starting price was too high. Even for a triplex, I know that I would not have anything left for repairs at a latter date).