With all the uncertainty going on with the world, with the wars in the middle east, longshoremen strikes, election in November, and potential for stock market and housing market crashes, should I hold off on purchasing real estate until the world is more "stable"?

I haven’t done this, and what strikes me about your plan is the financing piece.  

When a natural disaster strikes, it affects the entire area—not just your property.

The actual amount seems reasonable and in-line but that structure strikes me as odd. 

So for now I am striking out on my own. 

How else can they strike and demand higher pay if you replace them. 

This kind of proactive support can mean the difference between a smooth process and a viral disaster waiting to happen.

Also a lot of the hard money lenders these days from 1st time flipper want to see that you have about $50,000 liquid to weather any storms, like supply chain issues from Long Shoremen's strike. 

I like the affordable price point and smaller units personally. if any of that strikes a chord would love to chat.

Take the $40k, live off of that, work for free for 6 months, and then strike out on your own.