Heat milk in a small saucepan until just hot to touch or a few bubbles form around the edge. Remove from heat and stir in margarine until melted; set aside.

Combine 2 1/4 cups flour, white sugar, yeast, and salt in a large bowl. Add milk mixture, water, and egg; beat well. Add remaining 1 cup flour, 1/2 cup at a time, stirring well after each addition.

Turn dough out onto a lightly floured surface and knead until smooth, about 5 minutes. Cover with a damp cloth and let rest for 10 minutes.

While dough is resting, mix together brown sugar, margarine, and cinnamon in a small bowl. Set aside.

Preheat the oven to 375 degrees F (190 degrees C). Grease a 12-cup muffin pan.

Roll dough out on a lightly floured surface into a 12x9-inch rectangle. Spread brown sugar mixture over dough; sprinkle with raisins.

Roll up dough and pinch seam to seal. Cut into 12 equal rolls.

Place cut-side up in the prepared muffin cups. Cover and let rise until doubled, about 30 minutes.

Bake in the preheated oven until browned, about 20 minutes. Remove rolls from muffin cups to cool on a wire rack. Serve warm.