Preheat your waffle iron according to manufacturer instructions. Preheat the oven to 200 degrees F.
Mix together the butter, milk, eggs, and vanilla until well combined.
In a separate large bowl, mix together the flour, baking powder, salt, and sugar.
Add the wet ingredients to the dry, and mix until combined and there are only a couple of small lumps in the batter.
Divide the batter into thirds.
In one bowl, add the ingredients for the chocolate variation (can make sweeter if desired) and mix. In another bowl, add the ingredients for the red velvet and mix.
Lightly grease your waffle iron, and cook each waffle variation according to the manufacturer instructions for the waffle iron.
Keep finished waffles warm in the oven on a wire rack.