In a large frying pan, brown the ground beef over medium-high heat. Add in the onions, red bell peppers, green chiles, salt, cumin and pepper. Cook for about 3 minutes, or until the onions are translucent.
Place half of the enchilada sauce in the bottom of a 9x13" pan. Then place about 1/3 cup meat mixture into the center of the tortilla. Mix the 2 cheeses together and then top tortilla with cheese and roll up. Place seam side down inside the pan. Repeat with all 8 enchiladas. Top with remaining enchilada sauce and cheese.
Cover with foil and bake for 20 minutes. Remove from oven and top with olives if desired. Place back in the oven to bake for an additional 15-20 minutes without the foil.
Once cheese is nice and bubbly hot, remove pan from oven and top with fresh cilantro and sour cream if desired. Serve and enjoy!