Add 4 tablespoons of olive oil to pan and cook sliced potatoes until tender. Remove from oil and add minced garlic to remaining oil and allow to infuse then add thinly sliced steak (cook until all the juice is released from meat and remove meat from pan. Add 1 tablespoon olive oil and add sliced onions and Serrano peppers until onion is translucent then add in sliced tomatoes (cook for about 1 min). Add tomato sauce and 2 bay leaves and allow to bubble. Add steak and potatoes and give it a good stir. Cover and let cook on low heat for 10 min.