Heat a large skillet over medium heat, then add 1 tablespoon of cold butter to the skillet. When it melts, add the eggs and cook until soft scrambled. Place the eggs into a bowl and set in the oven to keep warm while you prepare the rest of the dish.
Add the remaining 2 tablespoons of butter into the skillet and once it melts, add the diced onions, potatoes, and Serrano pepper to the pan and stir-fry for 5 minutes, then add salt and another tablespoon of oil (if needed). Continue to stir-fry for another 5 minutes, or until the potatoes are cooked through.
Add the paprika, garlic powder, oregano and black pepper and stir-fry for 2 minutes.
Add the eggs back to the skillet, then place the cheddar slices on top.
Top with diced avocado, cherry tomatoes, green onions and cilantro right before serving.