Sort through the dry black beans to make sure there are no pebbles or debris. Place them in a colander, rinse well with water and set aside to drain.
Press the SAUTE button, add the oil to the pot and sauté the diced onions and diced jalapeño for 5 minutes to soften. Add the minced garlic, chipotle chili powder, cumin, paprika, salt, oregano and canned tomatoes. Stir and let sauté for 1 minute. Press the OFF button.
Place the bay leaf, vegetable bouillon, dry black beans and water in the pot and stir to combine. Put the lid on and make sure the vent is set to the SEALED position.
Press the MANUAL button and set the time to 30 minutes on high pressure. Once the timer goes off, let the Instant Pot natural release for 10 minutes before releasing the pressure valve. Remove the lid, add the juice of 1 lime and ½ cup fresh chopped cilantro and stir.
OPTIONAL STEP: To thicken, use an immersion blender for a few seconds, making sure not to over puree. (You can also use the back of a large spoon to mash some of the beans on the sides of the pot and then stir them back into the soup.)
Serve topped with avocado, fresh tomatoes, onions, cilantro, lime juice and a side of tortilla chips.