CAMCORDERS record only for 30 minutes before overheating. That is not true. dSLR type cameras designed to cpature still images that happen to capture video as a "convenience feature" might, but not camcorders...
If your plan is to be like "Big Brother" or "Real World", then your best bet is to use what they use... High end security cameras with Pan/Tilt/Zoom (PTZ) remote controls and possibly infrared/night vision capabilities (these cameras generally have no audio capabilities). Pelco has been around for a while, Sony and others mak high definition security cameras used in studios that are good, but because they are designed for studio use, their low light behavior is not so good - studios always have good lighting. Between the cameras, cabling, PTZ controller and the recording devices, you may not have budgeted enough... and you have not yet gotten to the audio (mostly wireless lavalieres, but also some stationary mics in the individual rooms that all connect back to an audio board and multitrack audio recording system (so one audio track at a time can be used for a single video feed) - One mic per board channel per recorded audio track). When edited, the audio is synchronized with the video... There are also the "cut in" interviews where a traditional camera or camcorder is used (not the security cameras).
Camcorders will have challenges working 24x7. Not enough memory unless the video feed goes back to a control room somewhere (where the single camera person is controlling things). If you must use a camcorder, then you need to have one with a LANC. Add in the remotely controlled pan/tilt motor and cabling for all this. I do not suggest this route at all.
There are many other examples... this is just a start. Remember, you get what you pay for.