I'm glad you've got those bases covered. Manila's real estate market is definitely booming but a lot of people (locals and foreigners) are jumping in without doing their due diligence. I agree that the perception "foreigners = easy $$$" is very strong here and that having trusted family and fluency in the local language (I'm assuming Tagalog) will serve you well.
Two caveats, though. I checked with my mom, who does freelance real estate work, and she confirms that foreigners cannot legally own private homes and undeveloped lots in the Philippines. The only kind of property that foreign residents can own outright are condominiums. Lots of people skirt this law by registering properties in the name of their Filipino spouses.
Second,
local laws state that foreign ownership of any business is limited to 40% pf total equity. The remaining 60% must remain in the hands of a local partner. Although recent government reforms have made things better, you will likely have to pay some bribes to get your business permits, licenses, etc.
But, but, but. I'm still very optimistic about this country's potential. We recently got our first investment grade rating (for the first time in its history!!) and the government is serious about fighting corruption. Cost of living is very cheap for someone used to living in a First World setting, almost everyone understands English, people in general are relaxed and not as xenophobic as some other Asians can be. Maybe take an extended vacation for a couple of months to see if it's a good fit for you and your SO.