Whisk together 3 cups flour, sugar, salt, and yeast in the bowl of an electric stand mixer.
Combine milk, water, and 1/4 cup of butter in a medium saucepan. Place over medium heat until the butter meltes. Let cool to 115 to 125 degrees.
With mixer on LOW (use the paddle attachment) gradually add the milk mixture to the flour mixture. Once added, turn mixer to high for 1 minute.
With mixer on low, gradually add the remaining 2 1/2 cups of flour to form a soft dough.
Turn dough out onto a lightly floured surface and knead for 8 to 10 minutes. Place in a large, greased bowl, turning to fully coat in grease. (I use vegetable oil.)
Cover and let rise until doubled in bulk, about 60 to 90 minutes.
Punch dough down and let rest 10 minutes.Melt the remaining 1/4 cup of butter. Pinch off small pieces of dough to form balls that are about 1 1/2-inches across.Dip each one in butter.Place in 2 greased 9-inch baking dishes.
Cover and let rise until doubled, about 45 to 60 minutes.
Bake at 375 degrees for 15 minutes or until golden. Brush tops with any leftover melted butter.