AWhen substituting milk in a recipe can coconut milk, water, rice, almond, or soy be used in equal parts? I usually just used water but I want to start experimenting with other favors and testing if the textures will change with different liquids.

Yes...you can also use flavored liquid coffee creamers.  What ever the liquid measure is, I usually do half water and half creamer, or a little less than half water and a little more than half creamer so that the creamer flavor is not so diluted.

AYes, most milk substitutes can be switched out equally for milk. Be aware, though, that different "milks" have different fat contents and this will have an affect on your final product. Also, if you wanted to try other liquids (such as fruit juices) to replace milk you can do that too, but with those you have to be aware of the acid levels and make adjustments to your baking soda/baking powder.

AThanks for the answers, I'm going to be trying some new things soon, can't wait to try it out.

AHmmm. I made a devil's food cake and substituted some of the milk (about 1/2 cup of the total of 2 cups) for a shot of espresso.

The cake was a little dry for my liking - I wasn't thrilled with the texture. Perhaps my substitution stuffed things up? Although I did manage to forget about it in the oven (woops!) and over baked it. I was sure that contributed more to the dryness than the espresso.

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Yep. Over baking will do that! Also, though, if you usually use full fat or even partly skimmed milk and you replaced it with espresso you will have reduced the overall fat content of your ingredients. That would make a difference, too.

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I usually use full fat milk. Is there anything I can add back into espresso to rebalance the fat content? Lard? (Joke - haha!)

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Lol! I would try replacing some of the remaining milk with whipping cream or half & half. That ought to balance it up. :)