Cook bacon in a Dutch oven over medium heat 10 minutes or until browned and crisp. Add onion, and sauté 5 minutes or until tender. Stir in green beans, red pepper, and salt. Add enough water to cover green beans. Bring to a boil; cover, reduce heat, and simmer 40 to 45 minutes or until beans are very tender. Drain beans, and transfer to a bowl. Add butter and vinegar; toss well. Serve hot.
*We discovered 2 great online sources for the specialty bacon: Schaller and Weber from www.germandeli.com and www.nodinesmokehouse.com. Regular bacon is an option too but contributes a milder flavor.