The only way I see you being denied is if the property does not pass the physical inspection, which simply requires a clean home with no safety or health risks.

Can they afford the initial build-out to transform your space to a restaurant that will pass health inspections and have enough funds left for the start up, food cost,  and marketing?

Be sure they perform annual inspections and preventative maintenance services.

I would suggest having a 10 day inspection clause in your offers and then you have a way to back out if you can't find the money.

When tenants did it, had neighbors complaining, neighbors reporting it to the town, town got after me, threatening fines, and I had to go to inspect.

https://lasvegassun.com/news/2019/feb/02/stratosphere-rebranding-the-strat/I actually almost bought a 24unit in that area last year, we found a few things during inspection that the seller did not want to fix / discount for, which ultimately killed the deal.

I know many HOA's won't release documentation to a buyer purchasing within the community until after appraisal and inspection of a property are complete- and then, I'm not quite sure how clear their books may be or how strong of a predictor they would provide in your estimations of future special assessments. 

I've used Erich for all my inspections on the south side, he is great. https://brickbybrickinspections.com/

I don't know if the tenant will be able to get a traditional loan as it may not pass the inspection requirements.

One thing to note is make sure you get a good inspection!