Yeah...it sounds like you're considering this arrangement to be somewhat temporary, with 10 month lease, etc. So if you're just wanting to build a car-coccoon to last a year, and you are not wanting/needing to have convenient access for occasional drives, then I do believe your planned method would likely do a good job of keeping it preserved in most any environment...just occasionally monitor for rips or sun rot to make sure there are no breaches in plastic during that time.

Also keep in mind that storage for that length of time will require mechanical attention. I'd recommend either completely full tank of gas with stabilization (and possibly discarding the fuel after storage timeframe...or burning it off a few gallons at a time in a daily driver diluted with something fresher), or maybe even a completely drained tank would be better to prevent your vented tank from making the ENTIRE interior from accumulating massive gas fumage odors in that sealed environment. I believe the inside of that bag is gonna stink BADLY if you completely seal it and it never vents off the evaporating gas. Battery should be removed, change all fluids, maybe relieve the tension on the valve springs, squirt some oil into each cylinder and turn motor over slowly by hand a couple times, jackstand all 4 tires off the ground to prevent flat-spotting, etc...there are long topics and chapters in books, with varying opinions, written on the whole long-term storage routine. Just bear in mind that you will certainly need to do more than just bury it in a bag, if you're wanting it to run right when you're done...