1. Dice the bacon into thin strips and fry in soup pot until crispy.
2. Remove bacon from pot and put on a paper towel to drain.
3. Sautee onion in the bacon drippings until tender.
4. Add potatoes and water and simmer until potatoes are tender.
5. Stir in remaining ingredients and cook until heated, stirring frequently.
6. Top with crispy bacon before serving.