Cook chopped bacon slowly in a cast iron skillet over medium heat until crispy and fat is rendered, about 8–10 minutes. Remove bacon and leave 1 tablespoon of fat.

Add sausage to the skillet, break up with a spatula, and brown thoroughly for 5–7 minutes. Remove cooked sausage and set aside with bacon.

Sauté diced onion and bell peppers in the skillet for 5–6 minutes until onions are translucent and peppers soften. Add minced garlic last minute and stir until fragrant.

Push vegetables aside, add olive oil or bacon grease, and place diced potatoes evenly. Season with smoked paprika, chili powder, salt, and pepper. Cook undisturbed 4–5 minutes to brown, then stir and cook 10–12 minutes until tender and crispy.

Combine cooked vegetables, bacon, and sausage in the skillet. Toss and cook 2–3 minutes to meld flavors. Adjust seasoning as needed.

Create six wells in the potato mixture and crack one egg into each. Cover skillet and cook on medium-low heat until whites are set and yolks runny, about 5–7 minutes.

Sprinkle shredded cheese evenly over the skillet, cover again, and cook 1–2 minutes until cheese melts. Remove from heat and garnish with optional toppings before serving family-style.