In a large mixing bowl, combine 1 ½ cups flour, sugar, salt, and yeast.
Add warm milk, water, and melted butter. Beat until smooth.
Stir in enough remaining flour to form a soft dough.
Turn onto a floured surface; knead until smooth and elastic, about 6-8 minutes.
Place in a greased bowl, turning once to grease the top. Cover and let rise in a warm place until doubled, about 1 hour.
Punch dough down. Turn onto a lightly floured surface; divide into 12 pieces. Shape each into a ball. Place in a greased 9x13-in. baking pan. Cover and let rise until doubled, about 30 minutes.
Bake at 375°F for 20-25 minutes or until golden brown. Remove from pan to wire rack to cool.