In a medium saucepan on low add the milk, butter and water. Heat just until warm and the butter has melted. The temperature should not exceed 110°F. Let the mixture cool slightly if needed.
In the bowl of a mixer add the warm milk mixture then sprinkle over the yeast. Add in the sugar and salt. Let sit for a few minutes for the yeast to dissolve.
Add half of the flour to the mixer and mix with the dough hook attachment until the it forms a shaggy dough. Add in the remaining flour, ½ cup at a time until the dough becomes smooth and stays together. (More or less flour may be needed). The dough should feel tacky, not sticky or wet.
Knead with the dough hook until the dough is fully developed. You will know the dough has been fully kneaded when it has become smooth and elastic.
Lightly coat the bowl and the dough with oil, cover and set in a warm place to rise until doubled. This should take approximately 20-30 minutes. Line 2 9"x 13" pans with parchment paper.
Deflate the dough and turn it out onto a clean work surface. The easiest way to portion the dough is to weigh the dough on a digital scale then divide the weight by 24. If you do not have a scale simply shape the dough into a ball, cut the ball into 4 equal parts then roll each part out into equal strips. Next cut each strip into 4 equal pieces.
Using a cupped hand, roll the dough balls into round rolls. Do not use any flour when shaping the rolls. Flour will prevent the dough from building tension while rolling to shape it.
Place the rolls into the prepared pans, cover and proof until puffy and doubled in size. Preheat an oven to 350°F.
Mix together the eggs and water to make the eggwash. When the rolls are proofed brush with the eggwash, making sure to be gentle to prevent deflating the rolls.
Place in the preheated oven and bake for 20-25 minutes. Brush with butter if desired. Enjoy!