Getting back...need HELP!

Hi Guys,
I've missed MFP for about a year where I tried doing a different way of eating which didn't work and I ended up gaining about 20lbs. I tried the whole wheat/grain/sugar free and low carb and I found that I just kept yoyoing and it did nothing for me except gain a whole lot of unwanted fat....one thing I did right was lift weights so this extra 20lbs has had no effect on my clothes and appearance...people actually think I've lost weight instead....

My stats are below...I want to start off first by losing 20lbs and will change my goals every 20lbs....please help and let me know if this is correct and has worked for some folks with similar starting weight as me.


CW: 223
5'8
Doing 40/40/20
Calories : 1,700
Exercise: Planning to exercise minimum 5 days a week and burning 400-500. Cardio one day in the form of Taebo and Body Pump the other day.
I WILL EAT back my exercise calories.