It's an economy that's dependent on tourism and gambling.

Reduced demand from tourism sector. 

I was very adamant about doing this and I now feel that I am well embraced in the REI community in Denver.

Not to be afraid of back taxes but embrace back taxes but as in any endeavor get your education and training. 

My advise to you (or anyone else who wish to self-directed their IRA or 401k): understand the rules and embrace them!

If the infrastructure is based on tourism and the tourism decreases/disappears, that dramatically impacts the housing market.

Those people (myself included) need to hear and embrace that perfection is not required.

GALVESTON - Galveston has set a record for the number of tourists visiting the island for the fourth consecutive year, rising to 6.4 million in 2015 and even much more in 2016 with help from a surge in cruise passengers, according to a recent study for the Galveston Tourism and Visitors Bureau.  

Also, there is a huge technology, gaming, music industry and tourism industry here. 

It’s hard to answer without knowing where they are, what the tourism market is like there, and what they cost/what other properties are making per year in the market.