In a small bowl, soak the ancho chiles in the water until softened. Drain the chiles and reserve the soaking water. Chop the chiles.
In a large pot over medium-high heat, warm the vegetable oil. Add the ground sirloin and cook, stirring occasionally, until browned. Using a slotted spoon, transfer the meat to a bowl, leaving the fat in the pot.
Reduce the heat to low, add the onions and garlic and cook, stirring occasionally, until the onions are soft.
Add the green and red bell peppers and the ancho, serrano, poblano and pasilla chiles. Cook, stirring occasionally, for 5 minutes. Season with 1 tablespoon each salt and black pepper.
Stir in the tomato paste, then add the oregano, cayenne and chili power and cook, stirring occasionally, until fragrant, about 2 minutes.
Add the browned meat, crushed tomatoes and reserved soaking water. Cover and cook on very low heat, stirring occasionally, for 1 hour. Uncover and continue cooking until it reaches a nice "chili" consistency. Adjust the seasoning with salt and black pepper.
Ladle the chili into bowls and garnish with cilantro, sour cream and white onion.