In a small bowl, whisk together oil, lime juice, cumin, paprika, salt, pepper and chili pepper.
Make sure the stainless steel insert is in your Instant Pot. Add chicken strips to insert. Pour oil and seasoning mixture over chicken. Gently toss with metal tongs.
Wash, core and thinly slice bell pepper and onion. Layer on top of the chicken.
Add ½ cup of water to insert. Important: please see note.
Close lid, set the valve to "sealing" position. Press "manual" button, make sure the IP is set to high pressure. Adjust timer to 10 minutes. The Instant Pot will beep after few seconds.
When it comes to pressure, it will start the timer.
Once done, the IP will beep. Press "cancel/off" button. Carefully switch the valve to "venting" position and quickly release pressure. When the metal part of valve drops, carefully open the lid away from your face.
Serve chicken and peppers in flour tortillas. Garnish with chopped cilantro (or parsley) and a dash of crushed red peppers.
Notes
This recipe calls for ½ cup of water, as that is manufacturers recommended and required amount of liquid so your IP can come to pressure. I received comments from readers who made this recipe and didn't like the "soupy" texture. To prevent that, you can add the water to the bottom of the pot and set the chicken and veggies on a trivet. You can also remove the chicken and peppers after cooking, set on a baking sheet and broil, like you would for carnitas. You can use chicken thighs if that's what you have on hand. I recommend buying the thinly sliced chicken breast (it has way less sodium than the thick breasts) and cutting it into thin strips.You can add the oil and seasoning mixture along with the sliced chicken to a ziploc bag and freezing or storing in the fridge for up to 2 days before cooking the fajitas.You can skip the seasoning selection from this recipe and use a packet of fajita or even taco seasoning.Serve fajitas with rice and black beans.