Water cooling will only make the rig a little quieter, the heat will still be there and will need to be removed somehow anyways. And it also makes the rig very bulky and its expensive if you got loads of rigs.
A few years back Bitmain made a water-cooled Bitcoin miner, I think it was called the Antminer C1, I had one for a few months. It was great because it was quiet and you could leave it in the office or sleep next to it, however it still generated heat and you had to put it somewhere there was good ventilation. And it was also bulky with the radiators and all the tubes sticking out.
Your best bet if you live in a house is to put them in the basement or garage, if you don't want it heating up your house.