My initial instinct is to wait for the results of these two efforts, as your asset protection efforts seem to depend on them.

Does each of these cell need a separate checking account for a reasonably  good asset protection?

The US has consumer protection rights that should apply to this space. 

The sellers were under agreement with another buyer who pulled out when Helene came through (even though the restaurant suffered no damage), so they are looking to close quickly (end of year) and retire.

We operate in a broken system that is ripe for abuse and fails to protect us.

Find a knowledgeable and trustworthy broker in your market that can shop amongst the various providers and find you the best deal while still making sure you have the protection you need.

Protect yourself.Our loan documentation package includes several handwritten forms that the borrower must complete at various points during escrow to establish the intended use of the funds.

We had two others installed later to divert water from coming downslope into our yard to protect a drain in front of the garage.

They are a great tool for asset protection (when you have assets to protect), but they are by no means the end all be all of liability mitigation.

A good PM can help protect you from a bad decision.