Heat olive oil in a large deep skillet or Dutch oven over medium-high heat.
Add the ground beef and cook, breaking it apart with a spoon, until browned and cooked through, about 5-7 minutes.
Add the diced onion and minced garlic to the beef. Cook, stirring occasionally, until the onion is softened, about 3 minutes.
Stir in the rinsed rice, beef broth, black beans, diced tomatoes with green chilies, chili powder, cumin, smoked paprika, salt, and black pepper.
Bring the mixture to a boil, then reduce the heat to low. Cover and simmer for 15 minutes, or until the rice is tender and the liquid is absorbed.
Remove the pot from heat and let it sit, covered, for 5 minutes.
Fluff the rice mixture with a fork and stir in the chopped cilantro.
Divide the beef burrito bowl among four plates or bowls.
Top each serving with shredded cheddar cheese, diced avocado, and a dollop of sour cream.
Serve with lime wedges on the side for squeezing over the top.