1) Add chopped bacon and a drizzle of oil over medium-low heat in a large skillet with a lid (no lid now though). Cook for 10 minutes until bacon slowly renders out fat and gets crispy.
2) Add in sliced onion and turn heat to medium. Cook until onion starts to soften, another five minutes or so. Season with a pinch of salt and pepper.
3) Roughly chop collard greens and add to skillet along with tomato sauce, drained and rinsed butter beans, water, and Tabasco.
4) Stir together, cover the pot, and let cook for 10 minutes. THen give the mixture a quick stir, recover, and cook for another 10 minutes.
Season the collard greens with salt and pepper and serve while hot!