- FYI: it's only illegal to try to rent it out, the property owner can usually legally live in a nonconforming basement unit.If you do all this you may still negatively cashflow each month, so make sure your income can cover and/or your cash reserves.If you do this successfully, you will learn more in 1-2 years than you would reading here on BP for 5+ years:)Good luck:)

I'm in Phoenix and obviously you can see that there are so many people moving from the west coast states out here to a cheaper and better weather market.

When reaching out to experienced wholesalers, show that you’re ready to contribute.

I suggest you find other sources of income or partner on deals to grow your real estate portfolio.  

@Mike WilfongWelcome to the BiggerPockets community!

Hello, Just wondering if anyone can help me figure out a lending strategy.

BUTTTT there is sooooo mcuh garbage out there that you'll have to sift through to find the gold and then you have to learn it, put it in proper order, THENNNN take action. 

Here are a few suggestions on how you can maximize the wealth of information available: Check out the blogs and podcasts, or take advantage of the search feature (magnifying glass).

Check it out here: https://get.biggerpockets.com/momentum2025/

Verifying last 2 years of rental history and income extremely important to find the “best of the worst”.Make sure you understand the Class of properties you are looking at and the corresponding results to expect.The City of Detroit has 183 Neighborhoods we’ve analyzed.DM us if you’d like to discuss this logical approach in greater detail!