Rinse the beans and place them in a caldero along with 8 cups water, 1 teaspoon of salt and the 2 bay leaves. Bring to a boil, then reduce to a low simmer, partly cover and cook until tender, about 1 to 2 hours.
Meanwhile, make your sofrito. Place the onion, garlic and green pepper into your food processor. Pulse until you reach your desired size. I personally hate giant chunks of green pepper and onion in my Congri, so I let the food processor run until they're minced.
In a large frying pan add your sliced bacon, onion, garlic and green pepper. cook on medium-high heat until your veggies and bacon are completely cooked through.
Drain the beans, reserving 3 cups of the broth or "black water" and being careful to not break apart the beans. Leave the cooked black beans in your caldero.
Grab your rice and rinse it. To rinse, place the rice in a large bowl, cover with water and swirl around. The water will get cloudy. Pour out the cloudy water, use a strainer to keep the rice from making a giant mess. Repeat until the water is clear.
Add to the caldero the olive oil, rinsed rice, red pepper, black pepper, Sazon completa, cumin, sofrito, "black water" and 1 ½ teaspoon of salt. Bring to a boil, stir, then reduce heat to low, cover and cook for about 20 -25 minutes.
Stir occasionally with a wooden spoon. Once the rice is tender, you're ready to eat!