What are some effective tips for cooking bacon in the microwave?
You can cook bacon that is safe-to-eat using a microwave. The USDA even lists microwaving bacon as a safe way to cook it:

The three main ways to cook bacon are in a skillet or pan on the
stove, in a conventional oven, or in the microwave. The length of time
to cook bacon depends upon the type and thickness of the bacon, the
heat used, and the desired crispness.

That said, I wouldn't expect the same (or even similar) results as cooking bacon in an oven or on a stovetop. Microwaved bacon usually ends up rubbery instead of crispy and brown. You also can't collect the rendered fat and reuse it since you usually microwave bacon on a paper towel.
Serious Eats wrote a great piece on how to cook bacon and advised against microwaving bacon due to the texture, but try it for yourself! Microwaved bacon is perfectly safe to eat and, at the end of the day, only you can decide whether you like it or not :)