What are the practical constraints on designing Sensing matrix in compressed Sensing?
Checking for RIP of a matrix is an NP-Hard problem which means it is not computationally feasible to accomplish. RIP is used in matrix design mostly in theoretical aspects. Stealing @David 's comments, RIP is a tight condition.
To design sensing matrices, another weaker condition named Coherence is used, which its computational complexity is tractable ($O(n^2)$ where $n$ is length of matrix). No matter what type of elements form the matrix, you can always check for its coherence.
A similar question has been asked here:
Compressive sensing: numerical generation of RIP matrices . Check it out for more details.