Place all Level 1 ingredients in the pot and stir until combined.
Place all Level 2 ingredients in a large bowl and stir until combined. Place the bottom layer of the Deluxe Reversible Rack in the lower position, then cover it with aluminum foil. Place the rack in the pot. Place the peppers and onions on top of the foil. Slide the Deluxe Layer through the lower layer’s handles.
Place all Level 3 ingredients in a large bowl and stir until the steak is evenly coated. Place the steak on the Deluxe Layer of the rack. It’s ok if the pieces overlap—they will decrease in size as they cook. Close the lid and move slider to STEAMSCRISP.
Select STEAM & CRISP, set temperature to 425°F, and set time to 10 minutes. Press START/STOP to begin cooking (PrE will display for approx. 16 minutes as the unit steams, then the timer will start counting down).
When cooking is complete, remove the rack layer with the steak, then the rack layer with the pepper mixture.
Let steak rest for 5 minutes. Stir the rice and beans and leave in the pot uncovered while steak rests. If there is water remaining in the pot, move the slider to AIR FRY/STOVETOP, select SEAR/SAUTÉ, and set temperature to 3 for 5 minutes, or until all water is absorbed.
Thinly slice steak. Assemble fajitas with steak, peppers, onions, and toppings of your choice. Serve with the rice and beans.
