Given the home is in CA and the legislation seeming to favor tenants due to the Covid situation... how can I guarantee I will be able to move into the home if my offer is indeed accepted?

Caveat: if you are bringing in a huge amount of money say 50% of the raise then that might tip the scales in your favor)Ask you can tell this is a really grey area.

Your overall experience in a passive investment involves much more than the returns, so when you find a sponsor you like, do yourself a favor and get clear on what your experience will be like AFTER you have invested.

The only one who would allow for out of state financing was Wells Fargo, but some of their terms and loan options weren't too favorable.     

This is why I would advocate for some better cash-flowing markets like Worcester, MA (2nd largest city in New England), or Providence, RI (3rd largest), where the ratio of Rent to Fair Market Value is more favorable. 

Over priced (thus no short term cash flow)Social decay (IMO - thus poor future prospects)Adversarial government (laws are all in tenants favor.

With that said, I think the single family home route might be the most readily available option at a more favorable price since this would be my first property.

With favorable market rates.

It’s very contradicting and really favors the tenant.

Renting it out is a possibility, but the cashflow picture does not look favorable.