Combine 3 cups flour, sugar, yeast and salt. Heat milk, water, and oil to 125ºF-130ºF in microwave. Stir into dry ingredients. Beat on low 2 minutes.
Stir in enough remaining flour to make a soft dough. Knead, add flour as necessary until smooth and elastic. Hint: I use my Kitchen Aid mixer to knead (on low) for 5 minutes, then I finish up by hand.
Cover and let rest 10 minutes. Divide dough in half and shape. Place in greased pans. Cover and let rise 30-45 minutes.
Bake at 350ºF 30-35 minutes. Remove from pan. Brush with butter (if desired). Cool.