01 - Preheat your waffle iron according to manufacturer's instructions until fully heated.
02 - In a large bowl, whisk together flour, cocoa powder, sugar, baking powder, baking soda, and salt until evenly distributed.
03 - In a separate bowl, whisk together buttermilk, eggs, melted butter, vanilla extract, and red food coloring until smooth and well blended.
04 - Pour the wet ingredients into the dry ingredients and gently fold together using a spatula until just combined. Avoid overmixing to ensure tender waffles.
05 - Lightly grease the preheated waffle iron. Pour approximately 1/2 to 3/4 cup batter per waffle, close the lid, and cook for 3-5 minutes until crisp and cooked through. Repeat with remaining batter.
06 - While waffles cook, beat cream cheese and butter in a medium bowl until smooth and creamy. Gradually incorporate powdered sugar, milk, and vanilla extract, mixing until pourable. Add additional milk if needed for desired consistency.
07 - Serve warm waffles immediately, generously drizzled with cream cheese syrup.