It doesn't. The right is only protected by the second amendment when that person is acting as a member of the state Militia.
"In that light, name a single person who can buy (in their own name) an M4, and store it in their home (as their own)."
None that I'm aware of. There's a federal law against non-Militia members owning such weapons.
But why stop at the M4? What's wrong with an M249, M203, or even the M2?
At which point they are acting as an agent of the state, under state powers, and thus it's not a "right".
There's a federal law against non-Militia members owning such weapons.
So name a single militia member who owns an M4 (or any other post-'86 machinegun) in their own name.