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Preheat and heavily spray waffle iron with nonstick cooking spray.
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Add hash browns, oil, milk, flour, egg, salt and pepper to mixing bowl and stir together.
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Pour mixture onto waffle iron and cook and lightly browned.
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Prepare Salsa:
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In small bowl; add avocado, tomatoes, cilantro, lime juice, salt and pepper.
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Lightly mix together and set aside.
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Cut a circle in the middle of each cooked waffle (a small biscuit cutter works well).
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Add waffle to a skillet lightly greased with butter; cook on Medium Heat for around 1 minute.
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Flip waffle over; crack egg and place directly into the waffle hole (be careful not to break the yoke).
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Cook for around 2 minutes or until egg is lightly browned; flip waffle over.
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Lightly salt and pepper the top of each egg.
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Continue cooking for around 2 minutes until the other side of the egg is lightly browned (don't overcook).
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Remove from heat.
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Top each waffle with salsa and a sprinkle of pepper jack cheese.