Those blinks [flashes] are fault indication (Error Codes). From the number of blinks occur at one time switch ON, you can get an idea about the faulty circuit section inside it. This will make repair easy. These are called blinking codes. Make sure about the exact number of blinking of the standby/power LED, by switching On & OFF the set, for at least two times. Count it carefully. If you wish to get some details, check the site linked here. It has details about blinking codes, and fault locating procedure, to many popular brand TVs and other devices. https://electronicshelponline.blogspot.com/Blinking codes details to many popular brand TVs are given. Surf the site with patience. If blinks continue without any pause, the main board is faulty.
The trouble with the video cassette recorder is it is full of rubber components - belts and wheels that don't age well, though it is doubtful that is the only problem.
Capacitors too, often don't age well, especially if the unit could have been subjected to high summer temperatures or freezing winter temperatures but again that probably wouldn't render the machine completely unresponsive.
It should be possible to remove the top cover of a front loader and turn the mechanism by hand to remove the tape but putting it back into working order should be left to a professional. There is often an internal fuse and it could be worth checking that...
Yes you can still find a DTV, Digital to Analog OTA tuner, converter box in some locations. Amazon has a number of them listed here, https://www.amazon.com/analog-to-digital-dtv-converters/b?ie=UTF8&node=979935011 . Some even have an option for recording video to a USB drive. For your Toshiba 56H80 TV, make sure to chose one with RF, composite or component video output on the converter. (Note: not all models are in stock. Other vendors will have some as well.)
Cindy Wells
(My experience with the converter boxes from the start of the change over is that some models failed easily. The power supply transformer failed on one model with the USB recording option. Another got hit by a surge during a thunderstorm.)
Replace the unit: If you were a trained technician, I can see repairs, but unless you have that ability; replace the Toshiba and get on with your life.