In a large resealable plastic bag, shake the steak, salt and water together to coat the meat. Be sure to get as much of the air out of the bag as possible, then put it in the refrigerator for 1 hour.
If you are using a smoker, preheat your smoker and set the temperature to low, 150 to 175°F (65 to 79°C) if your smoker will go that low. Lay your meat on the grill with the pieces at least 1⁄2 inch (12 mm) apart. Cook the meat strips for 4 to 5 hours, until the jerky is tender and dry on the outside and pulls apart easily. Turn the meat strips over after 2 to 21⁄2 hours of cooking. Transfer the jerky to a storage container, and let it cool for 30 minutes before refrigerating it.
If you are cooking your jerky in the oven, take the bottom rack out of the oven and cover it with foil. Return the rack to the bottom slot of the oven.
Preheat the oven to your lowest temperature setting, 170 to 200°F (76 to 93°C).
Place a metal rack on top of a rimmed baking sheet, and place the strips of beef on top of the rack. Let the meat cook for 2 1⁄2 to 3 hours, opening the oven door every hour or so for 5 minutes to let the moisture out. You will know your jerky is done and tender when the fat is no longer dripping off. Take the jerky out of the oven, and let it cool for 30 minutes before storing it in the fridge.
Jerky stays at its freshest stored refrigerated for 7 to 10 days.