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

Just search for them.But, if you want to have equity on the purchase, you need to buy something that needs work which is why it is being sold at a discount or you need to find a motivated seller who is willing to give away some of their equity for whatever reason.

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

@Benjamin Cowles To be successful in the industry does not mean that all you do is buy property at a steep discount at the expense of a seller.

Just be aware of what exactly you're getting if you find a deeply discounted rate.

Any additional advice or recommendations are appreciated!

Great way to potetially pick property's up at a discount. 

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.