Interesting points. The early Israel was heavily Socialist in nature because early European Zionists came out of a bizarre nationalist/Marxist background. Other "nationalist" movements, such as the Basque and Irish movements, which were originally conservative and traditional in nature (basically nostalgic and anti-industrial fantasies), also turned social and Marxist in nature.
There are probably two things that made Israel able to overcome this: for one thing, while many ZIonists were more political than religious, there was no way of eliminating the religious aspect of Judaism; and, secondly, the Jews who went to Israel as colonists came from all over Europe, including from countries that had already experienced the glories of Marxism, and they were probably less entranced by the five year plan than many in the original Zionist movement.
But it's interesting to consider the effect that this residual Socialism may have had on Israel, both then and now.
2. All sales of land were returned to the original owner in the 50th year. Thus, there were only leases of property for periods up to 49 years; there were no sales "in perpetuity" of parcels of land in the Land of Israel. "For the Land is Mine; you are only temporary residents and settlers together with me. (Lev. 25,23)"
http://www.ou.org/Chagim/shmitah.htm