I've attended "Guru" seminars that I spent my hard earned money on just to be put on a path of broken promises and falsified pretense. 

They have promised they were on their way several times then went quiet. 

In that scenario, you will only get VERY desperate tenants, which I promise you, you do not want. 

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?

Do not promise a success, only support.

@Richard Cumberbatch Oh haven't heard of that one but the title already sounds promising!

I saw the potential that property had and the price-point showed promise in future cash flow How did you find this deal and how did you negotiate it?

I sometimes feel like it is all the same information just packaged differently and they are selling the dream and the promise of "if I can do it you can too". 

This "soft" tactic accomplishes 2 things: 1) You aren't promising the world. 

Again, don't feel discouraged, just persist and I promise it will all work out.Good luck!