Now it costs me about $40-$50k out-of-pocket to acquire that home.

For you, it sounds like the turnkey provider is in your backyard providing properties that you could very well acquire yourself.

I'm relatively new to the BP community and this is my first post.I have a multi family investment property that has built up a lot of equity (over $500k) and I would like to use that equity to help me acquire another investment property.  

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

And, as you suggest, focusing on the first deal, not 2nd 3rd etc... 20-30% is just to much RIGHT NOW for a buy and hold, unless I get that down payment wholly or partially financed, OR I do NOT hold but plan for an exit as I've been recently been thinking like selling it somehow before the balloon or option period come up, however I acquire it.

Any additional advice or recommendations are appreciated!

It is interesting that Nathan W seems to be interested in acquiring turnaround properties as this is the number one thing that leads community investors to investing the time and money into doing seller finance correctly and legally.

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.