Cover the Tri-Tip with olive oil, then sprinkle on the rub.
Start your smoker and establish the fire. I use a Traeger so I set to the smoke setting and allow the fire to establish, about five minutes.
Place the Tri-Tip in smoker and close the lid. Smoke the Tri-Tip for one hour.
Remove Tri-Tip after one hour and tent with foil. Set smoker to high and preheat with the lid closed. Once temperature is reached place the Tri-Tip back in the smoker and close the lid. Cook to your preferred wellness. I like my Trip-Tip medium so I pull mine off at 150 degrees.
Fry up bacon in a pan on the stove. After cooked chop into small pieces.
Chop tomato, bell pepper, green leaf lettuce, Trip-Tip, and onion into small pieces.
Add all ingredients into a bowl and serve.
Optional southwestern ranch dressing: 2 tbsp sour cream, pinch of onion powder, pinch of cumin, 6 tbsp ranch dressing, 1/2 tsp chili powder, 1/2 tsp cider vinegar, 1/2 tsp lime juice, and a pinch of garlic powder.