2) RX480 has good ROI ATM for ETH mining. According to https://www.cryptocompare.com/mining/sapphire/radeon-rx-480-ethereum-mining/ it is 141 days, but you have better power cost and if you use a gpu with modified bios maybe roi will be better. But if ETH price/block reward drops and difficulty increases then ROI will be longer.
I use 6 gpu rx 480 rig and mining eth +dcr as dual mine and I'm pulling around 900-1000 watts from wall.
3) You may consider buying ASIC miners but I have no idea if those would be better in terms of profit.
I'm thinking to purchase multiple RX 480 but I'm seeing that RX 470 has a better ROI time (reaching it faster)
What I'm wondering more is about what coin to mine, I think only Ethereum but how do you dual mine? Does it dedicate all hash power to both coins or it is split into both of them equally?