I have often wanted to take the bus between Cagayan De Oro and Iligan City . From what I have heard and read, some of those buss rides can have similarities to a thrill ride at an adventure park. My Filipino friends have always discouraged me from taking the bus as there are times thieves will board the bus as passengers and when the bus is traveling through a desolate area, well, I will let you imagine the rest. I pay more and take a taxi. I go there on vacation so if I have to spend a little more it does not bother me. This is not to say a taxi can be 100% safe either but I usually have Filipino friends with me.
Although I have not yet attempted actually driving in The Philippines, just about every foreigner who has cared to write about their experiences all have a similar tone, something like " It's Crazy ". My own opinion is that Filipinos have their own rules of the road and understand eachother . For a foreigner it takes quite some time to attain this knowledge and put it to good use. I have heard it can be like an obstical course, especially at night. I have had thoughts fro time to time about renting a motorcycle and doing some very local and limited riding and sightseeing in some of the residential areas with city limits but I have yet to do it. You might do some websearching on Driving In The Philippines.
I will agree with message number 6 about liability, Caucasions are often stereotyped as " Wealthy Foreigners " and for example if you collide with a rooster that is crossing the road and lands right in front of you, you could be seen as liable not only for that rooster but for its potential future offspring.
There are motorcycle clubs in Mindanao, I think one of them goes by the name of " Torque " . You might try contacting some of the clubs and see what they think about your plans.