Rinse the beef tips in cold water and pat dry. Place them in a large bowl. Add salt and pepper to taste, then coat them with flour.
Place Olive Oil in a deep, large, frying pan and heat on stove top. Add your beef tips to the pan and allow them to slightly brown. Toss with a large spoon or spatula often to keep them from sticking and make sure most of them are browned.
Once browned, place the tips in a larger pot that can cook slowly on your stove top or place in a slow cooker. Add beef broth or stock.
Chop up the onion and place in the cooking pot. Add drained mushrooms and green chiles. Stir well. Place on a very low simmer OR on HIGH if using the slow cooker. Cover with a lid. Check the tips often. Add a cup of water at a time if they get too thick.
Check the tips once in a while to ensure they are cooking at a low pace. About 2 hrs. before serving add a package of TINY carrots (I use the packaged snack carrots found in the produce section of the grocery store.) And also PEEL and add 1 to 2 russet potatoes. CONTINUE to add a little water to make the tip gravy the consistency that you want it to be.
DINNER TIME....serve these tips over rice OR just have them with a salad and some fresh dinner rolls. I hope you enjoy!
P.S. IF your gravy is NOT thick enough...just take a small cup, add some flour to it and stir while adding a bit of HOT water to make it smooth...slowly add to your tips until it thicken's up.