Return 3 tablespoons bacon fat from skillet over medium heat. Add ham and cook, stirring occasionally, until beginning to brown, about 2 minutes. Add onion and red pepper and cook, stirring occasionally, until onion is golden, about 7 minutes. Add hash browns and cook until underside is mostly golden brown, about 7 minutes. Drizzle remaining 2 tablespoons bacon fat over potatoes. Using metal spatula, turn hash browns over in sections. Continue cooking until other side is mostly golden brown, about 7 minutes. Continue cooking stirring occasionally, until hash is completely golden brown, about 5 minutes more. Sprinkle with crumbled bacon and season with salt and pepper. Serve hot.

If desired, top each serving with a fried or poached egg.