Trim silver skin off the trip tip but leave some of the fat.
Massage the meat with the rub until fully covered and let rest at room temperature for 1 hour.
Prepare a charcoal grill or gas grill to high. Place tri-tip on grill and sear one side well, 6 to 7 minutes making sure it doesn’t burn. Rotate the tri-tip and sear other side for about the same time. Reduce heat to medium-high or move the meat to a part of the grill that’s not over direct flames. Turn meat again and cook another 8 to 10 minutes. Flip and cook again for an additional 5-6 minutes. A 2-pound roast will need about 20 to 25 minutes total cooking time. Cook until an instant read thermometer reads 120°F for a rare roast, 130°F for medium-rare and 140°F for medium.
Remove from the grill, let rest on a cutting board 10 to 20 minutes for the juice to redistribute.
To serve, slice against the grain. Serve with pico, guacamole, and charred tortillas.