Warm the tortillas in a large nonstick skillet over medium heat, directly over the flame, or in a toaster or toaster oven. Transfer to a plate.

Heat the olive oil or butter in the same skillet over medium heat. Sprinkle the grated potato into two piles in the pan, spreading each pile to about the size of the tortilla.

Salt the potato, then evenly sprinkle the cheese over the potato.

Make an indent in the center of each pile and crack an egg into it. Salt and pepper the eggs, then cover the skillet and cook until the cheese and potatoes are golden and the egg white is cooked through, about 3 to 4 minutes.

Use a spatula to wiggle the potato and cheese loose from the skillet, then slide them onto the warmed tortillas. Serve with hot sauce and lime wedges.