In a large bowl, combine warm water, warm milk, sugar, and dried yeast. Stir and let sit for 10–15 minutes until foamy.
Add vegetable oil, salt, and half the flour. Stir until a rough dough forms.
Gradually add the rest of the flour while kneading until the dough becomes soft and only slightly sticky.
Slowly incorporate the soft butter in portions, kneading until fully absorbed and the dough becomes smooth and elastic (about 8–10 minutes).
Cover the dough with a cloth and let it rise in a warm spot for 1 hour or until doubled in size.
Punch down the dough and shape into loaves or rolls as desired. Place into greased loaf pans or on a baking sheet.
Cover again and let rise for 30–40 minutes until puffy.
Preheat oven to 375°F (190°C). Bake for 25–30 minutes or until the tops are golden and the loaves sound hollow when tapped.
Let cool completely on a wire rack before slicing. Optionally, brush the tops with melted butter for a soft, glossy finish.