In a mixing bowl, combine olive oil, lime juice, cumin, paprika, garlic powder, and chili powder. Add the steak, ensuring it is well-coated. Let it marinate for at least 30 minutes.

In a saucepan, combine rice, water, lime juice, and salt. Bring to a boil, then reduce heat to low and cover. Cook for 15-20 minutes until rice is tender.

Preheat your grill or cast-iron skillet over high heat. Grill the steak for 3-4 minutes on each side until desired doneness is achieved. Let it rest for a few minutes before slicing.

While the steak rests, prepare your toppings: slice the avocado, shred the cheese, and chop the cilantro.

Divide the cooked rice among four bowls. Top each with slices of steak, avocado, cheese, salsa, sour cream, and cilantro.

Serve immediately, allowing guests to mix their bowls to taste. Add additional toppings or salsa as desired.

Store any leftover ingredients separately in airtight containers in the refrigerator for up to three days. Reheat rice and steak gently before serving.