Open your Instant Pot, and pour milk into the inner liner**. Add 2 Tbsp of yogurt (or starter), and whisk very well!
Optional: If desired, add sweetened condensed milk*, and again, whisk very well until all ingredients are combined and mixture is the same consistency.
Cover the inner liner with the lid of Instant Pot, or use any plate, pie pan, or glass lid that completely covers the top of the inner pot.
Press the Yogurt button until the displays shows 8:00. If desired, press the + / - buttons to increase / decrease the incubation time. (I like to set mine for 8:30). Once set, the display will show 0:00, and it will start counting UP to the designated incubation time.
After the designated incubation time, the display will show: YOGT. Remove the inner pot of the Instant Pot. At this point, try to minimize handling of yogurt, and do not stir!
Optional: To save starter for future batches of yogurt, reserve 1 tbsp portions of yogurt, and place in ice cube trays and freeze. Once frozen, remove yogurt from ice cube tray, and store frozen in a freezer-safe plastic bag for up to 6 months.
Optional: Place a heat proof bowl below a lined colander, and add the yogurt to strain the whey.
Place a clean kitchen towel or paper towel beneath a large plate, and place on top of the inner pot (or straining bowl) to collect any condensation. Place the pot into the fridge to cool and set for at least 4 hours, or overnight.
Transfer yogurt, in a food-safe air tight containers. Store yogurt in the fridge for up to 2 weeks.
Add additional sweeteners or toppings to yogurt, and serve. Bon appétit!