Homemade Burger or Hot Dog Buns

INGREDIENTS
1 cup milk
1/2 cup water
1/4 cup butter
4 1/2 cups all-purpose flour
1 (.25 ounce) package instant yeast
2 tablespoons white sugar
1 1/2 teaspoons salt
1 egg

DIRECTIONS

1. In a small saucepan, heat milk, water and butter until very warm, 120 degrees F (50 degrees C).
2. In a large bowl, mix together 1 3/4 cup flour, yeast, sugar and salt. Mix milk mixture into flour mixture, and then mix in egg. Stir in the remaining flour, 1/2 cup at a time, beating well after each addition. When the dough has pulled together, turn it out onto a lightly floured surface, and knead until smooth and elastic, about 8 minutes.
3. Divide dough into 12 equal pieces. Shape into smooth balls, and place on a greased baking sheet. Flatten slightly. Cover, and let rise for 30 to 35 minutes.
4. Bake at 400 degrees F (200 degrees C) for 10 to 12 minutes, or until golden brown.
5. For Hot Dog Buns: Shape each piece into a 6x4 inch rectangle. Starting with the longer side, roll up tightly, and pinch edges and ends to seal. Makes 12-16 hot dog buns. Let rise about 20 to 25 minutes. Bake as above.

I think I might let to dough rise for an hour before shaping and baking.