Add chipotle peppers, adobo sauce, oil, lime juice, garlic, cumin, oregano, salt, pepper, and water (if using) to a food processor. Blend until smooth.
Place steak in a large zip-top bag or container and coat evenly with marinade.
Refrigerate for at least 2 hours, preferably 8–12 hours.
Preheat grill to high heat for 15 minutes and oil grates.
Remove steak from marinade, pat dry, and lightly season with salt.
Grill on high heat for 2–3 minutes per side to sear.
Move to indirect heat and cook until desired doneness (130–135°F for medium-rare).
Rest steak for 5 minutes, then slice thinly against the grain.
Serve in burrito bowls, tacos, salads, or as a main dish.