About the tomato paste. Some places use ketchup. I much prefer it with tomato paste.
About the hot sauce. I use good old fashioned Tabasco Sauce, but you can use Sriracha or whatever you like. This small amount gives it a mild background heat. Taste it and add more if you wish. I am not into really hot sauces, but I usually use 1/2 teaspoon in this recipe.
About the vinegar. You may be tempted to use cider vinegar or something with more flavor, but resist the temptation. Plain old clear distilled vinegar is the right call for this sauce.