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[F Gump]

If we did THJ for Washington as part of the Bertans/Holmes deal, we could actually absorb Zubac without sending out any salary and be under the first apron.  

The assumption being PJ makes what Hardaway makes or less.  

It looks to me like you're assuming Holmes isn't getting the TK, yes? If so, you're making it too hard on the Zubac front. Without the TK, you can already absorb Zubac in the Bertans/Holmes deal, with no outgoing salary and without doing anything else.

And the THJ for PJW swap could be a simple standalone deal too.

But as you noted, finding a home for McGee or Holmes (and maybe even both) is almost certainly a necessary part of the equation if Zubac is being added.