Tear the bread into small pieces and pour the milk over top. Allow it to soak for several minutes. The texture should be like a very thick, wet paste. If the mixture is too loose, add a few more bread pieces.
In a large mixing bowl, whisk together the ricotta, Parmesan, eggs, salt, parsley, pepper, oregano, and garlic. Add the bread mixture and the meat then use your hands to gently stir it together until a cohesive mixture forms.
Form the mixture into the size balls of your choice. I prefer to use a large cookie scoop that holds about 2 Tablespoons of meat mixture, but you can make yours bigger or smaller.
To cook the meatballs, fill a bowl with flour. Dredge each meatball in a little bit of flour then place back on the baking sheet. Heat olive oil in a skillet over medium high heat. Carefully add the flour dredged meatballs to the pot and allow to cook until browned, flipping so all sides brown, usually 2-3 minutes per side.
Add the meatballs to the tomato sauce (which should still be gently simmering) and allow them to finish cooking in the sauce, usually another 10-20 minutes depending on the size of your meatball. Meatballs are done when a meat thermometer reads at least 165 degrees fahrenheit.
Serve the meatballs over fresh cooked spaghetti with plenty of sauce, and a sprinkling of Parmesan cheese and basil.