Then they suddenly told me my taxable brokerage account doesn't count as reserves but they won't let me sell and move assets to a checking account because they won't be seasoned for 60 days.  

Quote from @Abdi Muya: Remember: cheaper doesn't mean you'll make more money.Start by going to www.narpm.org to search their directory of managers.

It is taxable income

lolol  I've kept my old R22 units going, yes having to recharge them every other year, but no problem (buy my own can of R22, and do a simple charge up (with a can of Sealit "stuff" now)) but, that's MUCH cheaper than a whole new system, which I do know has to come in the future. 

Probably like any market, look where the new construction is happening.Look at what people are buying and what they are willing to pay.See if you can do it better, faster, cheaper and still make money.Then calculate the max you can pay for lots.Then go find lots to build on.I'd probably draw a big circle around DFW and buy on that circle or just outside of it. 

Ideally, you could also be an investor and buy something in a cheaper market and have it managed by a PM. 

AND, you don’t save a pro-rated portion of the taxes, any amount of your exchange over the ADU value would be 100% taxable. 

In other words, you will pay less in taxes by reducing your taxable income.

The "boot" (cash or non-like-kind property you received, which is $190k in this case) is taxable.

This particular area in our market doesn't have cheaper 3 bedroom 2 bathroom homes so there's a nice sweet spot in the market.