Preheat your skillet over high heat until it just begins to smoke, creating a hot surface ready for searing.
Add a small amount of oil to the pan, swirling to coat the bottom lightly. Once shimmering, add the sliced steak in a single layer and let it sear without moving for about 1-2 minutes until it develops a golden crust.
Flip the steak slices with tongs and cook for another 1-2 minutes until just cooked through and caramelized around the edges. Remove the meat from the pan and set aside.
Add the sliced onions and peppers to the same hot skillet. Stir frequently as they sizzle and start to char, about 4-5 minutes, until softened and lightly browned with some crispy edges.
Sprinkle the paprika, cumin, and chili powder over the vegetables, stirring to coat evenly. Let cook for another minute until fragrant and slightly smoky.
Return the cooked steak to the skillet, tossing everything together so the flavors meld and the meat reheats quickly, about 1 minute. Squeeze fresh lime juice over the mixture for brightness.
Warm the tortillas on a dry skillet or in the oven until slightly toasted with a few charred spots, about 1 minute per side.
Spoon the hot steak and pepper mixture onto the warm tortillas, folding or rolling them up for easy eating. Serve immediately while sizzling and flavorful.