Combine yeast and warm water (under 120°F). Stir gently and let sit for 5 minutes until bubbly.
Warm the milk in a saucepan on low (under 120°F). Set aside.
In a large bowl, whisk together eggs, butter, sugar, and salt until combined (the mixture will look slightly curdled).
Add the yeast mixture to the egg mixture and whisk gently.
Stir in the warm milk.
Gradually mix in the flour by hand, cup by cup, until well combined. Knead the dough for 3-5 minutes until smooth.
Scrape the sides of the bowl with a spatula and coat with butter to prevent sticking.
Cover the bowl with a cloth and let the dough rise for 2 hours, or until almost doubled in size. Punch down the dough and turn it over, then let it rise for another 2 hours.
Before rolling out the dough, place the pecans in the bottom of a 9x13-inch pan and top with the caramel mixture (below).