Additionally, I spoke with a broker last week about multifamily trends in the canton, OH and the surrounding area and he said trends show average price points around $35k-$40k for market properties, so maybe you can find distressed product around $25k a door? 

I am retired and looking to flip houses for additional income.

Yes you need to research and spend a couple hundred bucks on learning the system but I think for beginners it is our best bet.

Additionally, I like the lower down payment with FHA/THDA, especially if you have 3 other people paying down the note.  

Any additional advice or recommendations are appreciated!

Buyers list- your best bet is to show up to every local REI meeting you can, cause that's where your buyers will be.

You can find all kinds of contracts online, but any seasoned investor (and real estate agent) would strongly encourage you to have it reviewed by an attorney prior to use.Oftentimes, off the shelve documents work fine... until something goes wrong and then all bets are off.

A third party will force an additional layer of accountability and precision vs. one person doing it themselves.

Just want to verify this info with you all local professional investors.In addition, are there any property tax discount programs created by the city or state available to incentivize investors to invest in philly, just curious to know as well.

Check with your employer/benefit plan, some have rules that if its not your primary residence that you need to pay back the loan within 5 years, some plans do not let you make additional payments but allow pay off in full as early as you want, also if you leave your employer anytime before the loan is due, you may have to pay it off or pay a penalty.