We talked with a broker and he thinks we are financially stable to buy a home in CA and rent it after we move, but we are pretty scare of the risks involved in owning a home across the country when we move back home.We also don't want to be the safe people who never take a risk, and get nothing in return.

There are safe harbor exceptions though that allow you to deduct up to $10,000 a year in some instances.  

At this point, we're just monitoring COVID and waiting for things in LA to open up more (and for things everywhere to feel more safe).

Basically I am looking for safe investments that I can control from overseas (visiting a couple times a year) and of course with the help of people I can trust on the ground.

I hate to pass on it if it can be made completely safe.  

Decide what's most important to you: keeping your money safe (capital preservation), earning investment income each month, owning an asset that will be more valuable later even if it doesn't produce a lot of return right now, risking depreciation and vacancy in exchange for potentially bigger profit margins?

Thanks to the local police presence, the campus itself is very safe, but there's definitely a reason the homes in the surrounding area are valued what they are.

The IRS prefers in-person site visits and I like to be on the safe side with the IRS!

Allows public housing agencies the flexibility necessary for the safe and effective administration of these funds while maintaining fair housing, nondiscrimination, labor standards and environmental protections. 

Side note I'm more interested in quirky walkable areas vs outer suburban ones but also want to be fairly safe in terms of crime.