01 - Whisk together olive oil, lime juice, garlic, smoked paprika, cumin, chili powder, oregano, salt, and pepper in a large bowl. Add flank steak and toss to coat thoroughly. Cover and refrigerate for at least 20 minutes, up to 2 hours for deeper flavor penetration.
02 - Heat grill or grill pan over high heat until properly preheated. Remove steak from marinade and allow excess to drip off.
03 - Place steak on hot grill and cook for 4–5 minutes per side for medium-rare doneness, adjusting time based on preferred doneness. Transfer to cutting board, tent loosely with foil, and rest for 5 minutes.
04 - Heat 1 tbsp olive oil in large skillet over medium-high heat. Add sliced peppers and onions, season with salt and pepper, and sauté until tender-crisp with slight charring, approximately 6–8 minutes.
05 - Heat tortillas directly on grill or in dry skillet for 30 seconds per side until warm and pliable.
06 - Slice rested steak thinly across the grain for maximum tenderness.
07 - Arrange grilled steak slices on large platter with sautéed peppers and onions. Accompany with warm tortillas, avocado slices, sour cream, fresh salsa, cilantro, and lime wedges for serving.