01 - In a mixing bowl, combine the thinly sliced steak with olive oil, lime juice, chili powder, salt, black pepper, and minced garlic. Toss to coat evenly and set aside to marinate while preparing the remaining ingredients.
02 - Heat a large skillet over medium-high heat with a light coating of oil. Sear the marinated steak slices for 1 to 2 minutes per side until well browned but still juicy. Transfer to a plate and set aside.
03 - In the same skillet, add the sliced red onion, red bell pepper, and green bell pepper. Sauté for 4 to 5 minutes until softened and lightly caramelized. Remove from heat and set aside.
04 - Wipe the skillet clean. Briefly warm each flour tortilla to make it pliable. Divide the seared steak, sautéed vegetables, shredded mozzarella, and shredded cheddar evenly among the tortillas. Fold the sides inward, then roll each tightly into a sealed wrap.
05 - Heat vegetable oil in the skillet over medium heat. Place the assembled wraps seam-side down and cook for 2 to 3 minutes per side until the exterior is golden brown and crispy and the cheese has fully melted.
06 - Slice each tortilla melt in half and serve immediately with salsa, sour cream, and chopped cilantro on the side if desired.