In large foil pan (turkey size), tear up tortilla shells and spread in bottom of pan. Season browned, drained ground beef with chili powder. Even layer the ground beef, beans and 1 can of Rotel over the tortillas.
Next, spread both cheeses evenly over the beef, bean and Rotel mixture. Pour the final 2 cans of Rotel over the cheeses and the cream of mushroom soup over the top of that. Season top with additional chili powder. Cover and let sit overnight in refrigerator (or at least 3 hours). Bake in oven at 350 degrees for 90 minutes. Serves 8-12.