Can I legally own and keep a gun in my residence while a convicted felon resides in the same dwelling?

You can keep the firearm in the house however you have to get a safe and keep the firearm in the safe. This should protect your father from liability for being a felon in possession of a firearm.

This is very dangerous. If you must keep a gun make sure it is in a locked box where you have the only key or where there is a combination. Do not ever let this person touch the gun.

You need a personal consultation with an experienced local Criminal Defense Attorney in your jurisdiction. You can own any legal weapon you want. For your father's sake, you must keep it where he does not have and cannot facilitate access. A gun safe (and particularly in your room) is the way to go. You would never want to put your father in a position where law enforcement could say that he ever owned, purchased, received or possessed a firearm, or had a firearm in his custody or control (which would certainly include using the firearm, even if you were present). He cannot handle it. I mean,he can look at it with you, given that you can take your gun out the safe to take it to your car to travel with it to some location where you intend to use it, but I would still not do so in the presence of a law enforcement official.You would both be better offering on the side of caution under these circumstances.

Any person who has a conviction for any misdemeanor listed in Penal Code section 12021(c)(1) or for any felony, or is addicted to the use of any narcotic drug, or has been held involuntarily as a danger to self or others pursuant to Welfare and Institutions Code Section 8103 is prohibited from buying, owning, or possessing firearms. Various other prohibitions exist for mental conditions, domestic restraining/protective orders, conditions of probation, and offenses committed as a juvenile. Possessing is taken as being able to have control over the firearm. This prohibits the firearm from being in the same house as the person that committed the felony. If you have a gun safe then any time you take it out your father would be subject to arrest. Wither it is a rifle, shot gun or hand gun makes no difference. At no time would it be legal for your father to handle a firearm or ammunition. The best way to handle this would be to have a friend keep the weapon when you are not using it.

You can legally own a firearm unless you're disqualified. As you're figuring out, the issue is your father's possession. If the police and/or prosecution thinks he has any access to it, he can be in "possession" and face felony charges. Ownership isn't the issue. With a felony conviction, he is barred from owning, using or possessing a firearm. That includes handguns and long guns. He's also banned from possessing ammunition.