Start by mincing the ginger and garlic. Slice the red bell pepper and chop the Thai basil. Set aside.
In a large skillet, heat 1 tablespoon of canola oil over medium-high heat. Season the inside round steak with salt and pepper. Add the steak to the skillet and cook for about 3-4 minutes on each side or until it reaches your desired doneness. Remove from the skillet and let it rest for a few minutes before slicing it thinly.
In the same skillet, add the remaining 1/2 tablespoon of canola oil. Sauté the minced garlic, ginger, and sliced red bell pepper for about 2-3 minutes until the vegetables are tender and fragrant.
Add the sliced steak back to the skillet along with the soy sauce, hoisin sauce, brown sugar, and chopped Thai basil. Stir well and cook for an additional 2 minutes, allowing the flavors to meld together. Adjust seasoning with salt, pepper, and Sriracha sauce to taste.
Warm the flour tortillas in a separate skillet or microwave. Once warm, layer the beef and vegetable mixture onto each tortilla. Top with chopped peanuts for crunch and additional Thai basil if desired.
Serve the tacos with lime wedges on the side for an extra zing. Enjoy your delightful Asian tacos with friends and family!