In a large pot or dutch oven (I used a 5.5 quart one), add bone-in beef shank, 12 cups of water, and bring to a boil. Simmer beef for at least 1 hour before proceeding.
Wash and chop cabbage, and add to the broth
Simultaneously preheat a skillet with olive oil and add chopped onions and carrots - saute for 5-10 minutes until caramelized
Add beets to the skillet and saute for a few more minutes
Add tomato paste to the skillet and stir to incorporate fully - saute for a few minutes before transferring to the broth/cabbage
Add potatoes to the broth mixture, in addition to salt and pepper, cover and bring to a boil, reducing to a simmer for 20-30 minutes (at least)
Once vegetables have softened and incorporated fully into the broth, turn off the heat and add garlic and parsley (leaving some parsley for final garnishing)
Stir and let the borscht sit for 20-30 minutes so all of the flavors marry each other
Serve with a tablespoon of yogurt and parsley garnish, in addition to a few slices of rye bread - enjoy!