In stand mixer bowl, add 1 cup flour, yeast, sugar and salt; mix well. In saucepan or microwave-safe dish, heat milk, water and oil to 120-130°F. Add to flour mixture. Using a paddle attachment, blend on low speed for 30 seconds; beat on medium speed for 3 minutes.
Switch to dough hook attachment. Gradually stir in enough remaining flour to make a firm dough. Knead until smooth and elastic, about 5 to 8 minutes.(NOTE: For hand mixing: following above steps, mix ingredients in large mixing bowl using a wooden spoon or dough whisk. Knead on floured surface until smooth and elastic.) Place dough in lightly oiled bowl and turn to grease top. Cover; let rise until indentation remains after poking dough with finger down to second knuckle, about 1 hour.
Prepare pans: Grease two 9×5-inch or 8½x4½-inch bread pans; set aside.
Punch down dough. Divide into 2 equal parts. On lightly floured surface, roll or pat each part to a 14x7-inch rectangle. Starting with shorter side, roll up tightly, pressing dough into roll with each turn. Pinch edges and ends to seal. Place in prepared pans. Cover; let rise in warm place until indentation remains after lightly touching
Preheat oven to 400°F.
Bake for 35 to 40 minutes until golden brown. Remove from pans; cool on wire rack.