Preheat oven to 375°F (190°C). Line a large baking sheet with parchment paper or foil for easy cleanup.
Prepare the beef: In a skillet over medium heat, cook the ground beef until browned. Drain any excess fat, then add taco seasoning and water. Simmer for 5 minutes until thickened.
Assemble the nachos: Spread tortilla chips in an even layer on the prepared baking sheet. Sprinkle half of the cheese over the chips, followed by the cooked beef, black beans, and corn. Add the remaining cheese on top.
Bake for 10-15 minutes, or until the cheese is fully melted and bubbly.
Add toppings: Remove from the oven and immediately top with diced tomatoes, red onion, jalapeños, black olives, and cilantro.
Serve with sour cream, guacamole, and salsa on the side. Garnish with lime wedges.