In a bowl, mix the water, milk, yeast, and sugar. Cover and set aside for about 5 minutes, until the mixture starts to foam.

Add the butter, salt, and 1 cup of the flour. Mix on low speed for about 30 seconds.

Scrape down the sides of the bowl and add another cup of flour. Keep mixing until it's absorbed.

Add the rest of the flour and knead for 5–8 minutes, until the dough is elastic and not sticky. If it's too sticky, add a little more flour, gradually.

Transfer to a greased bowl, cover, and let rise for 1–2 hours, until doubled in size.

Grease a 10 x 5-inch (25 x 12.5 cm) loaf pan. Roll the dough into a rectangle about 8½ x 16 inches (22 x 41 cm).

Roll it up into a log about 8½ inches (22 cm) long and place it in the pan.

Cover and let rise for about 1 hour more, until the dough rises about 1 inch (2.5 cm) above the rim of the pan.

Bake in an oven preheated to 350°F (177°C) for 35–38 minutes, until the loaf is golden and sounds hollow when you tap the bottom.

Let cool completely before slicing.