Turn Instant Pot to Sauce function and add oil. Once hot, add bacon and move around fairly constantly so they don't stick to the pan. Cook for 3-5 minutes or until the fat has started to render.
Add garlic and onion to pan and sprinkle with salt and pepper. Move around until onion becomes translucent, about 3 minutes.
Add ground turkey and move that around, allowing it to cook slightly, about 5 minutes.
Add bell peppers, whole tomatoes, tomato paste, fire-roasted tomatoes, soy sauce, chili powder, onion powder, smoked garlic powder, smoked paprika, cumin, lime zest, bay leaf, mushrooms, broth and salt and pepper.
Mix to combine.
Turn off Saute function. Ensure release valve is set to Seal. Cook on High Pressure for 17 minutes.
Manually release (but it is okay if it naturally releases for a bit).
Add in beans. Stir to combine. Close and let set 5-10 minutes (the beans don't take long to warm up).
Stir and taste. Add additional salt, pepper or chili powder as desired.
Bring large cast iron skillet to medium-high heat. Once hot, add bacon chunks and move around as it cooks. Cook for approximately 3-5 minutes or until the fat has started to render.
Add garlic and onion to skillet and sprinkle with salt and pepper. Move around until onion becomes translucent, about 3 minutes.
Add ground turkey and move that around, allowing it to cook slightly, about 5 minutes.
Add ground turkey mixture to slow cooker, ensuring you scrape the bottom of the pan to get all the bits and liquid.
Add bell peppers, whole tomatoes, tomato paste, fire-roasted tomatoes, beans, soy sauce, chili powder, onion powder, smoked garlic powder, smoked paprika, cumin, lime zest, bay leaf, mushrooms and salt and pepper.
Mix to combine.
Close and cook on low for 5-6 hours.
Stir and taste. Add additional salt, pepper or chili powder as desired.