Preheat your oven to 350°F and position a rack in the middle. While the oven heats, combine the ketchup, brown sugar, dry mustard, and Tabasco sauce in a bowl, stirring until the brown sugar dissolves completely. This glaze will be applied in stages during baking, so set it aside. I like to taste the glaze mixture and adjust the Tabasco to my heat preference—you can always add more but can't take it out!

Pour the milk over the torn bread pieces in a large bowl and let them soak for 2-3 minutes until the bread is fully saturated and begins to break down. This creates a binder that keeps the meatloaf moist and tender. Don't skip this step or rush it—the bread needs time to absorb the milk completely so it can help bind everything together.

Add the ground beef, eggs, grated Parmesan cheese, salt, black pepper, and finely chopped parsley to the soaked bread mixture. Using your hands or a sturdy spoon, mix gently until just combined—don't overmix, as this can make the meatloaf dense and tough. Form the mixture into a loaf shape and place it on a rimmed baking sheet or in a loaf pan. The loaf will cook more evenly on a flat pan where the sides are exposed to heat.

Arrange the bacon slices over the top of the meatloaf, draping them across lengthwise so they cook evenly and get crispy. Spread about 1/3 of the glaze mixture from Step 1 over the bacon and meatloaf surface. The bacon will render fat as it cooks, which bastes the meatloaf and adds incredible flavor.

Place the prepared meatloaf in the preheated 350°F oven and bake for 45 minutes until the edges are nicely browned and the bacon is starting to crisp. The internal temperature should be around 160°F at this point, though we'll continue cooking.

Remove the meatloaf from the oven and spread another 1/3 of the glaze mixture over the top, getting it into the nooks and crannies of the bacon. Return to the oven and bake for 15 more minutes until the glaze caramelizes slightly and the internal temperature reaches 165°F. I reserve the final 1/3 of the glaze to serve on the side—it stays fresher and gives guests control over how much sauce they want.

Let the meatloaf rest for 5-10 minutes before slicing—this allows the juices to redistribute throughout the meat so each slice stays moist and tender. Slice into portions and serve with the reserved glaze on the side for drizzling.