To the bowl of a stand-up mixer with the hook attachment (you can also do this in a large bowl and knead it by hand!), add the warm water. Pour the active dry yeast on top and mix in into the water. Allow to stand until foamy, about 5 to 7 minutes. If it doesn’t get foamy then you’ll need to do it again.
When the active dry yeast is foamy, pour in the vegetable oil, melted butter, granulated sugar, evaporated milk, salt, vanilla, ground cinnamon and eggs. Break up the eggs with the back of a spatula and allow the dough hook to mix it up a bit, about 30 seconds.
Next, pour the flour in all at once and run the machine for about 5 minutes on medium speed, until the dough is soft and smooth. If you’re doing this by hand, once the dough comes together, you’ll want to dump it out onto your floured counter and knead it for about 10 minutes, until it’s nice and smooth.
Rub a large bowl with oil or spray it with cooking spray and place the dough in the center of the bowl. Cover it with a clean kitchen towel and allow it to rise for about 1 hour, until doubled in size.