Cook your rice according to package directions and set aside. This typically takes 15-18 minutes for white rice. You can also use leftover rice from a previous meal.

Heat olive oil in a large skillet over medium-high heat. Season steak generously with salt and pepper on both sides. Sear for 4-5 minutes per side for medium-rare (golden-brown crust and warm red center), or 6-7 minutes per side for medium. Transfer to cutting board and rest for at least 5 minutes before slicing into thin strips, about 1/4-inch thick.

In the same skillet with drippings, reduce heat to medium and add diced onion and bell pepper. Sauté for 3-4 minutes until softened. Add minced garlic and cook for 30 seconds, stirring constantly to prevent burning.

Stir in prepared rice along with paprika, cumin, and chili powder. Mix thoroughly, allowing spices to toast slightly and coat every grain, about 2-3 minutes.

Reduce heat to low and add shredded cheese a handful at a time, stirring after each addition until fully melted before adding more. This gradual process takes about 3-4 minutes total and prevents the cheese from separating.

Fold sliced steak into queso rice mixture and warm together for 1-2 minutes. Serve immediately topped with fresh cilantro, sour cream, and avocado slices.