Possibly the California money relocating to Houston?

I think our cooler climate and fresh water resources are going to attract a lot of population in coming years, especially as CA/FL become impossibly expensive for many people. 

Not everybody can: https://www.biggerpockets.com/forums/51/topics/1075919-five-...Also, cost segregation will not help you with your CA state taxes, only (potentially) with your Federal (IRS) taxes.

I co-own a home in CA with a friend.

Not only did Detroit beat every city in other popular Midwest states like Indiana, Missouri, Ohio, Wisconsin, etc...Detroit beat every city in the super popular states of Arizona, California, Florida, and Texas - Detroit beat them ALL!

@Marc Anthony MacielIf you're diving into house hacking and multifamily investing in Southern California, you’ll want to focus on markets like Riverside, San Bernardino, Ontario, and Long Beach—areas with strong rental demand and solid appreciation potential.

I need more advice
Just now I suddenly had an idea, the land left by the LA fire and SB-9 (SB-9 allows single-family residential lots to be split into two lots)
Is this a good opportunity?

You will only get people calling to yell at you if you have an area code from CA.  

I'm going to do new post referencing insurance - this has been a big topic amongst my California friends. 

In CA you can rent ADUs but can only rent JADUs as a separate unit if the owner lives on the property.