Heat olive oil in a large skillet or pot over medium heat.
Add the halved baby potatoes.
Season with salt to taste and ½ packet of taco seasoning. Stir well to coat.
Cook the potatoes for 5–7 minutes, stirring occasionally.
Add the ground beef to the pan along with additional salt and pepper to taste.
Brown the ground beef, breaking it up and mixing it with the potatoes.
Stir in the can of Rotel (with juices), the remaining ½ packet taco seasoning, and ⅓ can of water.
Cover and cook for about 10 minutes, or until the potatoes are fork-tender.
Sprinkle shredded sharp cheddar cheese evenly over the top.
Cover just until the cheese melts.
Serve hot and finish with sour cream, pico de gallo, and avocado slices.