Heat a pan over medium heat and sauté the chopped onion until soft and translucent. Add the ground beef and cook while breaking it apart. Once browned, add tomato paste and stir briefly to develop flavor. Pour in the water and season with salt, pepper, paprika, and garlic powder. Let it simmer until most of the liquid has reduced and the mixture is thick and flavorful. Remove from heat and let cool slightly.

Place a small amount of shredded cheese onto each tortilla. Add a spoonful of the beef mixture on top. Roll tightly and place seam-side down. Repeat until all filling is used.

Heat oil in a pan over medium-high heat. Fry the taquitos seam-side down first so they seal. Turn occasionally and fry until golden brown and crispy on all sides. Remove and drain briefly on a wire rack.

In a small saucepan over low heat, warm the cream. Add the grated cheddar and stir continuously until fully melted and smooth. Season lightly with salt if needed. Serve warm.