Soak the wood chips in water according to the smoker’s directions. Preheat the smoker to 250°F (120°C). Lightly grease a small rimmed baking pan.
In a large bowl, combine the ground beef, egg, almond flour, cheddar, jalapeño, onion, smoked paprika, cumin, garlic powder, salt, and black pepper. Mix gently until combined, taking care not to compact the meat.
Shape the mixture into a compact loaf and place it in the prepared pan. Drain the wood chips and add them to the smoker as directed by its manufacturer.
Smoke the meatloaf until its center reaches 160°F (71°C) on an instant-read thermometer, about 1½ to 2 hours. Rest it for 10 minutes before slicing.
While the meatloaf rests, gently combine the diced avocado, lime juice, and cilantro in a small bowl. Spoon the avocado salsa over the sliced meatloaf just before serving.