Peel and dice russet potatoes into small, even cubes roughly half an inch in size. Toss in a large bowl with oil, salt, pepper, garlic powder, and onion powder until every piece is fully coated.

Air fry seasoned potatoes at 400F for 18 to 20 minutes, shaking the basket 2 to 3 times during cooking. Do not overcrowd the basket. Potatoes should be golden on the outside and fork-tender inside.

Brown ground beef in a skillet over medium-high heat, breaking into small crumbles. Drain excess grease, add taco seasoning and water as directed on packet, and simmer 3 to 4 minutes until sauce thickens.

Layer crispy potatoes onto a serving plate or individual bowls. Spoon seasoned beef over the top, sprinkle generously with shredded Mexican cheese, and add desired toppings. Serve immediately.