That makes sense inside the Christian worldview so fair enough. What I find puzzling though is that you said they didn't understand it. So not only could they not obey properly the parts they did understand, there were parts they didn't understand at all. I guses I wonder why God would go to the trouble of telling them how to live perfectly but not male sure they knew what he meant. What do you think?
When I say that they didn't understand it I mean that they didn't
fully understand it - just like we don't fully understand it today. The words were easy enough to understand. But they didn't - and we still don't fully today - understand the depths of the implications of the Law.
For example the Law commands: "You shall not commit adultery." Jesus revealed in the Sermon on the Mount that this command includes even looking at a woman lustfully - an implication or depth of application that has not always been clearly understood.
But it is your own flawed human interpretation of scripture that is causing you to have an imperfect view if morality to begin with, how can appealing to your bible help if you can't be sure that you even proprely understand what it is telling you?
The Bible is a north star even though I may only understand it through a fog of my own finitude and sinfulness. But I have the help of God's Holy Spirit and the rest of the church. So I don't think I'll ever understand it perfectly. But by God's grace I believe I will understand it sufficiently.
I assume from Leviticus 25:41 onwards that they would be from the nations around them, or tribes passing through. Have I misread Leviticus?
Leviticus 25:44-46 does speak of owning "slaves" or "servants" that come from other lands. I don't have the time to comment fully on this now but I'll return to this point when I do.
Below I'll simply comment on the Israelite-owning-Israelite situations.
I don't share your reading if this text so maybe you can convince me I am wrong

It seems to me that there are three problematic elements to this story from my moral viewpoint .
1) A human being is owned as property by another.
Yes and no. The Law exists in part to show that human beings
could not be properly owned by another. All Israelite "servants" or "slaves" (Hebrew
aved can mean either) were to be released after six years for nothing. There was a strict limit to how long their debt-slavery could last. God says why:
Leviticus 25:54-55 - 54 And if he is not redeemed by these means, then he and his children with him shall be released in the year of jubilee.
55 For
it is to me that the people of Israel are servants. They are my servants whom I brought out of the land of Egypt: I am the Lord your God.
The Israelite servants could not be permanently owned because they belong to God alone. They could serve a debt-slavery for up to 6 years if they chose to sell themselves into it.
2) It is clear that beating your slave with a rod is acceptable.
I disagree. Just because a law recognizes the occurrence of something does not mean that it approves of it or sanctions it. This is an example of OT casuistic law (or case law). The case is when a master beats his slave. In other words, the Law is saying this...
"When a master beats his slave, if his slave then dies then X consequence... if the slave does not die then Y consequence."
Such casuistic law does nothing to validate the situation that it is regulating. Similar casuistic law occurs with other behavior that is explicitly condemned. For instance, we see laws in the OT that say something to the effect of...
"When a man commits adultery, then X consequence..."
Just because the law recognizes that this action occurs does not mean it is approving of this action.
3) It specifically says that if they survive for a day or two the owner is off the hook but if the slave were to die beyond that time frame no punishment is forthcoming. Therefore if we follow this law as it is written, no consequence would result from the case of such a bad bea ting that the slave bleeds internally and dies 4 days later.
As I read it the slave does not die in the latter situation. Another way to translate "survive" is "recover". So the NIV renders it this way:
Exodus 21:20-21 - 20 “Anyone who beats their male or female slave with a rod must be punished if the slave dies as a direct result, 21 but they are not to be punished if the slave recovers after a day or two, since the slave is their property."
To kill an Israelite, slave or free, was a capital offense. There are other laws that even speak of bodily harm to Israelite slaves. Consider this:
Exodus 21:26-27 - 26 “When a man strikes the eye of his slave, male or female, and destroys it, he shall let the slave go free because of his eye.
27 If he knocks out the tooth of his slave, male or female, he shall let the slave go free because of his tooth.
So other laws give consequences for beating slaves. If the slave is injured to a serious extent then the slave must be set free, as you can see.