Steak Fajita Chili

This is another great one from Aggieland Mommy Cooks.  I have adapted it a bit just to make it even more simpler for me, but otherwise, a great recipe that is company worthy, especially during football season!

1 lb flank steak (I use cubed stew meat and cook all of this in the crockpot)
2 T vegetable oil
1 red bell pepper, chopped
1 green bell pepper, chopped
1 yellow bell pepper, chopped
2 onions, chopped
2 c water
3 (15 oz) cans tomato sauce
1 (15 oz) can ranch-style beans
1 (15 oz) can black beans
1 (14.5 oz) can petit diced tomatoes
1/4 c chopped fresh cilantro
3 t Ancho chili powder
2 t ground cumin
2 t fresh lime juice
1 t garlic salt
1 t ground black pepper
garnish: shredded sharp cheddar cheese, sour cream

Cut steak across grain into thin strips. Cut strips into 1" pieces.
2. In a large Dutch oven, heat oil over medium-high heat. Add steak; cook 5 minutes, stirring frequently.
3. Add peppers and onions; cook 5 minutes. Stir in water through pepper.
4. Bring to a boil over medium-high heat; reduce heat, and simmer 30 minutes.
5. Garnish with cheese and sour cream, if desired.