Preheat the oven: Begin by preheating your oven to 425°F (220°C). Line a baking sheet with parchment paper to prevent sticking and make cleanup easier.
Boil the potatoes: Place the 1 ½ pounds of baby red potatoes in a large pot of salted water. Boil for 15-20 minutes, or until fork-tender. Once tender, drain and let cool for about 5 minutes.
Smash the potatoes: Using a fork or a potato masher, gently smash each potato until it's about ¼-inch thick. Allow the smashed potatoes to air dry for a few minutes; this will help them crisp up in the oven.
Brush with butter and season: In a small bowl, mix ¼ cup melted unsalted butter, ½ teaspoon kosher salt, ½ teaspoon garlic powder, and ½ teaspoon black pepper. Brush this mixture generously over each smashed potato.
Bake the potatoes: Place the baking sheet in the oven and bake the potatoes for 20 minutes. After 20 minutes, flip the potatoes and bake for an additional 20 minutes, or until they are crispy and golden brown.
Top with deliciousness: Once the potatoes are baked, remove them from the oven and top each with diced 2 medium jalapenos, crumbled 6 slices turkey bacon, and 1 cup shredded sharp cheddar cheese. Return to the oven and bake for another 3-5 minutes, or until the cheese is melted and bubbly.
Prepare the dip: While the potatoes bake, mix together 1 cup sour cream, 1 tablespoon dry ranch seasoning mix, and 1 teaspoon jalapeno powder in a bowl until well combined.
Serve and enjoy! Once the cheese is melted, take the potatoes out of the oven, let them cool slightly, and serve them warm with the ranch jalapeno dip on the side!