In a medium bowl, whisk 1 cup water and 1/16 tsp yeast. Stir in 2 ½ cups of flour until a thick dough forms. Cover with plastic wrap and rest at room temperature 8-12 hours.
In a large bowl, mix remaining 1 cup water and 1 tsp yeast. Add the pre-ferment and gently break it up into the water with your fingers or a whisk. Add the remaining 2 cups of flour, salt, and olive oil. Stir with a wooden spoon or using your hands, until a wet, uniform dough forms. The dough will look shaggy, wet, and messy. If you prefer, you can mix the final dough with a stand mixer fitted with the paddle or dough hook attachment just until there are no dry patches of flour. Don't overwork it; just mix until the flour is fully incorporated and the dough pulls away slightly from the sides of the bowl.
Transfer to a well-oiled bowl. Cover with plastic wrap and rise for 2-3 hours. During the rising, wet your hands and perform two sets of “stretch and folds” (pull the dough up from the side and fold over the center) to build structure.
Turn the dough onto a generously floured surface. Dust the top with flour. Cut the dough in half, or into 4-6 pieces for sandwich rolls. Gently nudge the cut sides to tidy the shape (do not knead or roll). Carefully lift the shaped dough onto parchment paper-lined baking sheets.
Cover with a dry towel and let rise for 45 minutes.
Preheat the oven to 450°F. Bake for 25-30 minutes until the crust is deep golden brown. Cool completely on a wire rack before slicing.