In a plastic ziplock bag, I use the gallon size, toss the cubed beef with the paprika, salt and pepper. Sprinkle the flour on top of the beef and toss to coat.
Heat the olive oil in a large nonstick skillet over medium heat until hot. Add the beef in a single layer and cook until golden brown on each side, tossing occasionally, about 5 minutes. Don’t worry if the beef is not cooked through, it will fully cook later on in the sauce. Scrape the beef onto a plate and set aside.
Add the butter to the pan, and stir in the onions and mushrooms. Sauté the mixture, stirring occasionally and scraping up the browned bits from the beef, until the onion is translucent and the onions and mushrooms are browned, about 5 minutes. Add the garlic and cook for another minute, until fragrant.
Pour in about ¼ cup of the beef broth and deglaze the pan by scraping up any bits from the bottom. Stir in to combine. Add the rest of the beef broth and the bay leaf, stirring well.
Add the beef back into the skillet and simmer the mixture over medium-low to medium heat, until the beef is cooked through and the sauce thickens slightly, about 10-15 minutes. Stir in the sour cream and cook for about 2-3 minutes longer. Let the mixture simmer for 2-3 minutes until thickened. Serve over mashed potatoes, egg noodles or rice and garnish with fresh parsley, if desired.