About the same as you i am 37 5 feet 10 and around 220 pounds.

Not sure if you can drop fat and replace it all with muscle mass, my medical doctor got me a BF% test and he said that at 22% its normal and i am ok like this. I want to drop the pounds because i am too heavy right now.

I did low carb a few times, first week or so you can easly drop 10 pounds, men lose weight faster then women, that weight is water weight after that initial 10 pounds you will need to adjust calories, weight lifting and cardio and really try to lose no more then 1 pound a week to avoid losing muscles. On low carb its a bit hard because you have no glycogen in the body and you might experience some serious energy loss. At least i do when i reach ketosis but the weight i lose is quit impressive.