We lived in Nicaragua for 6 months to try it out. We would definitely consider that as a viable option for long-term off grid living. (We currently live off-grid in the Pacific Northwest.) In Nica the soil is incredibly fertile the country has all the necessary resources - wood, water, animals etc. necessary for sustainable living. Many foreigners retire there because the country is trying to attract that traffic by allowing them to import a car +household for free, among other things, to boost the local economy.
They've worked very hard to be a 'safe' country - even heard on NPR the other week that Nica is considered the safest country in Central America. As far as purchasing property goes... I think most people rent, and the land we were looking at purchasing ($500 for a lot near a small community!) had to be put in the name of a national. We were going to put it in the name of a fatherless child - there are lots of widows/single moms and orphans in the community we were looking at. That way if we ended up leaving years later or whatever then the child - feasibly then an adult with whom we had a relationship with would 'inherit' the property.
We ultimately decided against it because of unassociated reasons, but we still love Nica and often consider returning.
Most Gov websites have the initial info you would need to consider such as immigration fees, visas, citizenship etc. Good Luck with your search for 'True Love Land'!