Have TV Questions? Ask a TV Technician
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Hi there, sorry to hear you're having trouble with the Toshiba,
Unfortunately, the symptoms you are experiencing are symptomatic of an internal hardware defect. It is attempting to start up, but there is a BUS error indicated by the led flashing 3 times, which means there is a failure on the main board (or possibly the power supply) preventing the set from booting fully.
No amount of plugging/unplugging will help this, nor is there a reset procedure that would clear the issue, I'm sorry to say.
This is something that would require repairs to correct; if you're thinking about a do it yourself repair, you would need to be comfortable and skilled with electronics repairs, which would require dismantling the set (removing the back panel of the tv), diagnostics with ad digital multimeter to test voltages inside, changing out boards as needed, and possibly desoldering/removing and soldering/replacing capacitors (a common failure point).
If you’re considering repair at a local shop, you’ll find a typical repair to be around $300 for diagnostics, parts, and labor.
However, for a 40" tv that is 4 years old, it's not going to be worth repairing, as you can buy a new tv for about the same amount, getting updated technology and a fresh warranty in the process.
Depending how you'd like to proceed, I can help you with locating parts, finding a local repair shop, or recommending a replacement set.