Step 1

Melt the butter in small saucepan over medium-low heat; add the milk and heat until warm to the touch, a few minutes. Set aside.

Step 2

Whisk the flour, sugar, salt and yeast in a large bowl to combine. Gradually whisk the warm milk/butter mixture into the flour mixture, and continue whisking until batter is smooth. In a small bowl, whisk eggs and vanilla until combined, then add the egg mixture to the batter and whisk until incorporated. Scrape down the sides of the bowl with a rubber spatula, cover the bowl with plastic wrap, and refrigerate for at least 12 or up to 24 hours.

Step 3

Heat the waffle iron according to the manufacturer's instructions. Remove the waffle batter from the refrigerator (it will be foamy and doubled in size) and whisk to recombine (the batter will deflate). Spray the waffle iron with non-stick cooking spray and cook according to the manufacturer’s instructions. Serve the waffles hot off the iron.

Step 4

Note: Active dry yeast may be used instead of instant/rapid-rise yeast, however, the dough will take longer to rise. To give active dry yeast a boost, you can add it to the warm milk and butter, let it sit until frothy, about 10 minutes, and then proceed with the recipe.

Step 5

Note: If you'd rather hold the waffles and serve them all at once, place them on a wire rack set above a baking sheet, cover with a clean kitchen towel, and place the baking sheet in preheated 200 degree oven. When the final waffle is in the iron, remove the towel to allow the waffles to crisp for a few minutes. Alternatively, you can hold the waffles on a wire rack and reheat them gently in a toaster oven as you need them.