I now work remotely, and since I don’t have to be in LA, I am thinking of moving somewhere that would allow me to do more with my funds.

In LA I imagine the hourly wage would be higher than elsewhere.   

If one were to run cash flow returns, they're low, but a lot like what you said-- AA+ neighborhood, long-term hold, and LA is unlikely to not appreciate, especially Venice since it's squished between SM and MDR which have already been developed, so Venice won't last much longer before the developers come in too (ugh, I live in Venice and I don't want it to gentrify but it's already started).So if you can afford the negative cash flow for awhile or whatever expenses, rents will eventually catch up, you're likely going to see appreciation (probably more than I will since mine is a duplex and they don't appreciate as much as a SFR), and you ultimately have a plan for how you plan to profit on it... it could be a good move!

LA is a pricey market to jump in on and buy a house.

Pricing on multis in LA is out of control.

Quote from @Rick Albert: As someone who invests in Los Angeles, regulation keeps making it tougher and tougher.The good thing with heavy regulation like rent control is it keeps investors out, which means those left behind will be the only inventory (thus very high rents).However, even then there is only so much that one can take and when there are other landlord friendly markets, it can be a better business decision to invest elsewhere.Fellow LA Investor Here. and yeah LA is super annoying but it all becomes worth it when i get a heloc on the place i bought in 2017 (and overpaid for by about $40k, as I had lost out on a bunch of deals and bought this out of sheer frustration) and i am now buying 2 properties (In Indiana)  and BRRRing them, all with nothing but that HELOC money---- that's what LA is good for imho. 

As far as LA (is that Los Angeles or Louisiana)I don't of a good CPA.

I was in your shoes in 2019 when we moved from our location in LA. I

But since I live in the North East, and it seems that the long term demographic of LA is not very promising ( people are moving out to cheaper areas), I am considering to sell the house and move the proceeds to Austin, Texas and surrounding areas.My questions are:1) Is now a good time to sell since the market is so hot?

@Sara Booth, I saw you said you're from LA - I use to design part of the power grid for LADWP and lived in downtown Los Angeles for a year - I hated the traffic!