We've also weathered economic downturns better than most of the US.

@JD Martin I see your point and I think it's clear that (to this point) the Great Depression was significantly worse for owners from an economic standpoint, but I think the 'eviction' question is still relevant.

But there is little insight on what significant levels of inflation, such as that caused by COVID, do to these trends during economic depression/recession in the united states. 

The Commerce Clause has been used to support non-economic Federal law to trump state law regarding morals, welfare, civil rights, and ultimately any human activity which has any affect on activities in more than one state.

The economics of the deal look ok but I'd be interested in a few more things, given the times. 

I was born in Portland Maine, the largest city in the state with a population of 70,000.

If that is not the case you can analyze the current real estate market and trends and identify markets that will more likely than others be stable or less affected by coming economic declines. 

The Philippines is one of the most dynamic economic region in East Asia Pacific also the most promising emerging market in the world in the next 20-30 years.

That said, it's clear that our economic recovery has begun, the worst economic quarter in the post-World War II era is behind us, and the question now shifts to how quickly we recover.

This will give you insights into the long term economic viability of the area and can inform where you choose to invest.