Given how the US economy is headed and the gloom around the global economy and markets, is it wise to invest 50-75K on a property at this time?

Longer term rents and more competitive pricing I guess, making it slightly less profitable in the short term.

No one saw a global pandemic coming, and I think the uncertainty of what may be coming regarding rental markets is a real concern. 

This would be a good time to re-look at comps and see what your competition is like. 

Suburb feel but within walking proximity to a grocery / town area.I know this is a tall wish list and I don't delude myself into thinking that I can live rent free especially in this competitive market.

@Hunter Phillips yeah now is probably a pretty decent time to buy a primary as you will face very little competition from other owner occupants and many primary residence choices don't make great investments so you might not have much competition there either. 

If water/sewer is normally included in rent in your area, then you'll find yourself at a competitive disadvantage.

I know this is where most of the competition is so my question is, is it best to make blind offers and than adjusting the offer if needed during due diligence, or risk taking longer to make offer by seeing property first and coming up with offer after seeing property?

This happened on a country level in 1980 and happened on a global level in 2009. 

“This is already shaping up as the deepest dive on record for the global economy for over 100 years,” he said.