Bring 2 cups of water to a boil over high heat. Add the rice, reduce to low heat, and simmer, covered, until rice is fully cooked and fluffy. (The rice can also be made in the instant pot).
While the rice is cooking, core, seed, and dice the bell pepper. Drain and rinse the beans. Add the beans and peppers to a medium pot with olive oil, salt, and pepper and simmer over low heat for about 10 minutes.
Cook the eggs anyway you prefer. I like mine scrambled, but over easy would be delicious as well.
When the rice is done, mix in the beans and bell pepper and stir to combine. Serve with eggs, a side of sour cream, and plenty of hot sauce of your choosing.