I too live here in So CA, and although things and property are expensive, it is sure tough to beat the location/atmoshpear, beach, mountains, etc.If you are looking to make good returns on your money, and would want to invest locally if and when you move, I would suggest flipping rather than holding the CA properties (at least in Seal Beach and surrounding expensive areas).

Ski cabin in Taos, Lake property in TX, Smoky Mountains in TN, coast in Myrtle Beach (although I gotta tell you If you're gonna go ocean it's hard to beat your backyard). 

I've helped several STR investors purchase investment properties across the North Georgia mountains.