In a large frying pan pour 1-1/2 cups of oil. While it is warming up take about 3/4 of the package of tortillas and tear into thin strips. Once the oil is warm place the strips of tortillas in pan and fry until golden brown. Place them on the side on a plate. Repeat until tortillas are gone. Once you are there should only be a few tablespoons of it left in pan, leave it there and place all the fried tortillas back in pan. Add onion, water, salt & hotsauce to pan. Mix well, you want the tortillas to be soft you may need to add more water. Keep let simmer about 10 minutes, stirring occasionly. Then turn heat to low and tear cheese into small peices and place in pan and cover with lid. Let cheese melt and serve. You could add steak or chicken to the top if you would like.