Getting to know the culture and societal guidelines, as well as dealing with red tape, local politics, construction/remodeling, employees, seasonal business, et al is a requisite and it's great that you're researching. Here are two very different experiences you might wish to read:

Gringos Restaurant Closes Doors. What Went Wrong?
--in the town of Chelem, Yucatan, as reported by the blog "Dropped In")

and

Luna Blue's PlayaZone
--Toni and Cheri's blog in Playa del Carmen. They're Americans who "...bought a run down hotel and spent the next year turning it into what is now the most popular small hotel in all of Playa del Carmen.." and their wonderful blog updates their ongoing story of "...How we got here–the ups, the downs, the good and the bad – a story many people seem to enjoy hearing."