As a generic answer, I'd have to stretch awfully hard to configure a specific scenario where I would want to pay $11k more in taxes than I could get away with while still getting the "all clear" from my CPA. 

If that is the current configuration, then dig deeper. 

Crown Point has a ton of older homes that are configured duplex style, and these might be your best bet starting out.

Again, just like in the previous properties high quality products, finishes, desirable design and configurations are always on the high demand.

Because of the way the land is configured, I could see myself adding another house or 2 (or duplexes?)

Depending on how they are configured, they are also much better for roommate situations, which can open up a larger tenant pool. 

In order to maximize the net density based on the configuration of the parcel, one would have to construct multiple duplex/triplex buildings along with a few apartment buildings.I have reviewed similar parcels in the neighborhood that have been purchased by developers and constructed as duplex developments.

Consider:Are the units configured for pets?

The Comps on 3 Family was lower than Comps for a 4 Family like my own building 2 doors down.The Seller didn't know it was a 4 Family because they also Bought it from a previous owner while it was in the 3 Family configuration because it was the previous owner than the current Seller that had already made the conversion.The Seller was represented by the biggest and most prestigious Brokerage Firm in the area and yet the Broker/Agent did not know.The Appraisal was conducted, but it appraised as a 3 Family as the Appraiser only saw 3 Kitchens.The appraiser gave the building the value of the asking price which was $1.2 Million.By the time I closed on the Contract, I immediately pulled out the circular staircase from the combined two floors and put in the kitchen that was missing since there were only 3 kitchens in the building prior to my purchase.

They give you the DID but you have to configure your things.