In a large sauté pan, melt butter in two tablespoons of oil over medium heat.
Add bell pepper, onions and garlic and sauté for 8-10 minutes to caramelize the vegetables.
Pour this into a large slow cooker.
Heat the pan to medium high and add the remaining oil. Add meat and cook until meat has browned.
Scrape all of this into the slow cooker with the vegetables.
Then add all other ingredients to the slow cooker except the lime, cheddar and sour cream.
Stir, cover and set slow cooker to low and cook for five hours.
Stir after five hours and add lime juice into the cooked chili.
To serve, dish out into bowls, top with cheddar cheese and sour cream.