The Epic Pro Academy talks about the followingContract AssignmentsWholesalingFix and FlipBuy and HoldLease OptionsOwner FinancingSubject-toPresenting multiple offers to sellers called a 3 option letter of intentLead Generation (in my opinion a little old school but works)Advertising (My personal stance is don't create a huge buyers list but build close relationships with 3-5 and go shopping for them (buyer first).)AutomationIf even one person was able to have success following the course then it works.

But also don't want to buy something that doesn't generate income.

He buys nice homes (700k range and adds ADUs to them for around 100-120k) All in he's at 800k and he will generate between 6-7k/month in gross rent which usually nets him around 1k/month in true cash flow. 

During this time you are not generating any return from the money invested in the ADU.

Good advice from @Nathan Gesner and Account Closed Also bear in mind that if you can find a current deal that makes sense, and will generate even a decent amount of cash flow right now.....then you can just about count on it doing very well once you are able to refinance.

Will me generating a lease for last year and then this year, calling out the space at home, be unethical or illegal in any way?

This opens to generational living, house hacking, guest house situation, or full investor.

I was behind on being ready for retirement and was hoping the real estate, and having tenants sending me checks each month would help in generating cash flow and increasing net worth.

While he has helped millions become debt-free, which is amazing, I'd seriously challenge how many he's helped become wealthy though (his philosophy doesn't teach how to build generational wealth). 

I’m working with my father on managing his RE portfolio.We have one multi family property that is fully paid off and generates roughly $200k in NOI/Cash Flow.