Melt 3 Tbsps. butter in a large pan over medium - high heat. Add potatoes, red pepper, garlic powder, paprika, salt & pepper. Cook 5 - 7 minutes, until the potatoes are browned on one side.
Move potatoes to the side of the pan, add onions, and 1 Tbsp of butter to the middle of the pan. Cook another three minutes stirring the onions frequently, and leaving the potatoes undisturbed.
Stir everything together, lower heat. Cook covered for 5 minutes on low - medium heat.
Add 2 Tbsps. butter, stir to coat potatoes and onions. Cover and cook, stirring occasionally, for another 10 - 12 minutes, or until potatoes are soft.
Serve with eggs and bacon for the perfect easy breakfast!