Sprinkle the powdered gelatin over 3 tablespoons of cold water. Let it sit for 5 minutes. I like to do this first so it dissolves evenly in the warm cream mixture.
In a medium saucepan, combine cream, milk, and sugar. Warm gently over medium heat, stirring occasionally. Do not let it boil; I always watch closely to avoid scorching.
Remove from heat and whisk in the bloomed gelatin until fully dissolved. Stir in rose water and vanilla extract for that delicate floral note.
Divide the mixture evenly into ramekins or silicone molds. Let them cool slightly at room temperature before covering.
Refrigerate for at least 4 hours, or until the panna cotta is fully set. I usually chill overnight for the best texture and flavor.