In the bowl of an electric mixer fitted with the dough hook, combine the butter, milk, water, sugar, and yeast. Add half the flour and stir until combined. Add the remaining flour and salt and turn the mixer on low speed until a rough dough comes together. Increase the speed to medium and knead until the dough is smooth and supple, about 6 to 7 minutes.
Scrape the dough into an oiled bowl and cover. Let rise until doubled in size, about 1 1/2 hours.
Make the coating:
In a small saucepan melt the butter. Add about 1 tablespoon of leftover bacon grease and brown sugar and heat until dissolved. Remove from heat and stir in the maple syrup.
In a shallow bowl combine the granulated sugar and cinnamon.
Shape the bread:
Generously grease a 10 to 12-cup Bundt pan, using a pastry brush to get the grease into all the nooks and crannies. Sprinkle about a third of the bacon over the bottom of the pan.
Punch the dough down. Remove the dough to a floured work surface. Tear off small pieces of dough and roll into a tight ball. Dip the ball in the butter mixture, allowing the excess to drip back into the pan. Roll the ball in the cinnamon sugar mixture then place into the prepared pan.
Repeat this process until half the pan is filled with dough balls. Scatter another third of the bacon over the dough. Repeat the dipping and coating process with the rest of the dough. Scatter the remaining bacon on top. Pour the remaining butter mixture over the dough.
Cover the Bundt pan tightly with greased plastic wrap and let rise until puffy, about 1 hour.
Meanwhile, preheat the oven to 350°F. Bake for about 30 minutes, or until the bread is amber in color and bubbling at the edges. Cool for 5 minutes in the pan, then turn out onto a platter or serving plate. Let cool 10 minutes before serving.