Combine water and yeast in the stand mixer bowl and let sit for about five minutes or until yeast dissolves. If you don't have a stand mixer and are making it by hand, put them in a large bowl.
Meanwhile, combine milk, butter, sugar, and salt in a microwave-safe medium bowl and microwave for about a minute. Stir until the butter and sugar melt. If the mixture gets too hot, let it cool to lukewarm so it doesn't kill the yeast.
Pour the butter mixture into the large bowl or stand mixer. Thoroughly mix (it should be lukewarm) and whisk in the eggs.
Gradually add about 3¾ cups of flour and continue mixing the dough on low, adding just enough flour to form a soft dough.
If mixing by hand, remove the dough and place it on a lightly floured surface. Knead for 6-8 minutes.
Place dough in a greased bowl, turning once to coat the dough. Cover loosely with a clean cloth and let rise in a warm place for 1½-2 hours or until doubled. Punch the dough down.
Lightly flour your work surface and divide the dough in half. Form a ball with each half, roll them into 12-inch rounds, and cut them into 16 wedges. Roll up wedges, starting from the wide end, to form a crescent shape.
Spray the baking sheet pan with oil or butter, then place crescent rolls on the oiled pan ½-1” apart. Cover lightly with a kitchen towel and let rise for about 30 minutes or until the dough is puffy.
Preheat oven to 400℉. Brush crescent rolls with butter. Place in the oven and bake until golden brown, 12-14 minutes.
Serve warm with remaining butter if desired.