I have done it with multi families. It is going to be based a lot on how your water provider bills you. They may install and read the meter for you if you install all the water lines. Our provider bills quarterly and the landlord is responsible for water. Tenants can receive courtesy bills in a single family that they pay but if they choose not to its on the landlord. Ill tell you how it worked for me.
Im from Cincinnati The utility company will only read their meter, so what we have to do is install sub meters after their meter. Check out Neptune Water Meters online, I use a Neptune T-10. It has the ability to have a thing called a touch pad sensor attached to it. This sensor is then hooked up on the outside of the home so a meter reader can read the meter without having to enter the property. A lot of times this sensor is sold with the meter. you can also physically read the meter. It has a dial on it similar to a cars odometer measured in cubic ft or gallons.
We have a company called Guardian water and power read our meters. They read the meters monthly, generate a bill, and mail it to the tenant. They dont actually collect the payment, but in the bill it tells the tenant they can mail theyre payment to our business address. Since we are responsible the tenant pays us and then we pay the water provider. This is not something we actually profit from. Guardian may not be in your area, but there might be a company like it.
The thing I would suggest is making sure your lease states that theyre responsible to pay the water bill and what specific repercussions are if they dont.
The rest is just running water lines from the meter to your fixtures. This may be complicated and/or expensive but it self explanatory.
If your water provider will install and read an additional meter thats great. I would start with a call to them to help outline your next steps. Hope this helps!