You have the means to purchase and intend to offer owner financing (you) to the buyers of your lots.That sounds pretty straight forward as long as you are able to carry the loans and deal with any defaults.I don't have a background in raw land deals, so that's all I got.Thanks for the feedback and I will keep these things in mind as I move forward. 

Passive losses exceeding this limit can carry forward to offset future passive income or gains.

Long term hold, with buyer planning on carrying existing financing to term without the ability to quickly cure default — terrible strategy with huge risk for both parties.   

Back then we were getting 1% positive carry e.g.

and we carry insurance to protect from those situations but unfortunately there are horror stories and tragedies that happen in medicine. 

Would you be better off selling and purchasing a less expensive property that would require less carry should it become vacant for some period of time?

They have carrying costs.

Is Japan a good place to carry out that strategy?

I would also share pros and cons of paying taxes on the windfall versus owner carry.

I can have multiple one use code for contractors so I can control access without physically going there.You do not need to carry the key, just need to keep track all codesMain disadvantage is that the locking requires the door to close properly, otherwise the tenant may not know the door is not licked.