I'm very much a planner and never do anything on a whim, so I'm trying to start this off with guidance so I don't get us in trouble we're in over our heads.

Our financial planner had suggested this was completely OK as he would have 60 days to replace that $ without it being considered taxable income for the year.

I will be contacting local planners in MD, VA, DE and TN to learn more about what's possible.

boy I would not be fishing around the internet for this info it should take all of 30 minutes to get all these questions answered by simply walking into the planning department and talking with a planner as they walk you through the regs.. 

I’m a planner and trying to decide what the best approach for me would be to go about it and the next steps I need to take.

But you would have to ask a estate planner/cpa about that dimension.

Suggest you talk to your CPA, and investment planner.

The building and zoning dept will typically have a Land planner available to sit down with you, just for these things.  

I think she thinks it would be rude and kind of a slap in the face to her stepfather (who is the financial planner who opened the account by the way).

When my team reached out to the city, the city planner confirmed they will give big credits and incentives for new apartments and asked how they could help...So, sounds good right lol There are SFRs on the left and a 40 unit apartment complex on the right.