I see pictures of others using an iPhone and in the bottom right I see a curved arrow I guess is the Return To Home option. Why would I not have that on mine? I'm using version 3.2 of the DJI Vision.

Thanks

I believe you do when you waypoint flying.

Thanks!

I'm new to this so how do I switch to waypoint flying? Is that what I see in the video where the guy picks the flight path and the Phantom follows the waypoints?

Yes it is, its called ground station and its part of the app.
This and many other interesting things are explained in the manual   

Definitely read up on it. But to give you a hint, you must first enable it in the app settings. Then you swipe to the right from FPV screen to see the waypoint or ground station feature.