One comment on the bladders/buckets.
If you use buckets you will need to create a means to pump/vent the air out and displace it with water to sink the course. Then you will need to displace the water with air to float the course (the hard part). If you use bladders the pressure of being underwater will work in your advantage because they are flexible. The water pressure will force the air out when sinking the course, then all you need to do is re-fill the bladder with air when you want to raise it.
Trying to displace water with air underwater is very difficult, so I would chose to eliminate that challenge if you can.
Much simpler to use a flexible bladder bag then a rigid air container from a physics perspective. You'd only need one valve for the whole course. Connect all the bladders together, pump air in to raise the course. Vent the bladder air to the atmosphere to sink it. If you want to get really fancy get a Belimo, arduino and a contactor. You can start the compressor and actuate the valve with a remote.