Place the pinto beans in a colander/strainer rinse them well. Pick out any damaged beans. Set the rinsed beans aside.
Set Instant Pot on Saute - add the oil, when it is hot, add onion and jalapeno saute , add garlic, pour a small amount of chicken broth in the pot and scrape any stuck-on bits from the pot. Add remaining chicken broth, water, salt, cumin , black pepper, and red pepper
Close and seal the instant pot cook on manual high for 45 minutes - natural release for 25 minutes - release any remaining pressure and open lid. Beans will have a lot of liquid, keep 2 cups of liquid - set aside - drain any remaining liquid
Return to Instant Pot with an immersion blender, blend until desired consistency adding the liquid that you set aside as needed.
Serve as is or can be refried in a cast iron frying pan