Rinse the long-grain rice thoroughly under cold running water until the water appears clear. Drain and set aside.
In a medium pot, bring the beef broth to a gentle simmer over medium heat. Add the rinsed rice, cover, and reduce heat to low. Cook for 15-18 minutes until tender and liquid is absorbed. Remove from heat and let sit covered for 5 minutes. Fluff with a fork.
Heat olive oil in a large skillet over medium-high heat. Add flank steak, garlic powder, ground cumin, smoked paprika, and a sprinkle of salt and pepper. Sear for 3-4 minutes on each side until browned and cooked to desired doneness. Transfer to a plate and let rest.
In the same skillet, add diced onion and mixed bell peppers. Sauté for 5-6 minutes until softened and onions are translucent.
Pour queso cheese sauce over the sautéed vegetables and stir to coat evenly.
Slice the rested steak into strips and fold into the cheesy vegetable mixture, stirring to combine.
Serve by spooning the cheesy steak and vegetable mixture over a bed of rice. Garnish with chopped cilantro and serve lime wedges on the side.
Notes
Serve in large bowls for a layered presentation, garnished with cilantro and lime wedges.