Hey Casey,I work heavily in the trash biz and though yes you technically can try to fight the city on this, it's not worth it.

So even if you do not have that access to that type of cash or securities now, just keep in mind for the future because if you ever sell a property that results in a decent size of cash, make sure to put that money with a brokerage that has a loan program so that you can have flexibility, no closing costs, and your money working for you both in the market and in real estate.I know that the latter portion of my answer does not address your question but it is a product most brokerage houses have but they do not heavily market so just in case you have security in the form of retirement you might have a solution that could be very cost effective.

I heavily researched Dallas market & the property taxes as Jay pointed out already is an overkill for an investor.

This is due in large part to major corporations like Intel, Honda, Nationwide Children's Hospital, and Wexner Medical Center investing heavily in the region and creating numerous job opportunities. 

I have a family member who bought a piece of land for $10,000 about 1.5 acres in a heavily secluded area , but close to the beach.

In the rare instance that a deficiency judgment might be actively enforced, you might be able to negotiate a heavily discounted payoff.Let us know if your research suggests the impact of default on a recourse loan is more severe than I described.  

Like many others have stated, I wonder what happens when things turn down heavily, but I also think it might be the main place people who would be good bets but get shut down by banks when they hit lockdown go to get funding, so it could be fine.

Investing in the smokeys makes total sense and is something I was heavily considering. 

For many industries/companies are expected to be hit, most of high rent market should be correction heavily?

Varies by the county and city current and future land use plan for the are and when it was built.Generally older subdivisions had bigger parcels of land as construction and land costs were much cheaper back then.How many homes per acre (density) will vary by what plans the developer can get approved and pushed through and if city sewer is available.If you have to put in septic the lots need to be bigger.So it heavily varies based on a number of factors.