Cryss, with DLM, on a soil floor, you need to start out with your coop in an area which does not have drainage issues. You should also be sure that you have a good functional skirt to help prevent infliltration by rodents. Good ventilation, and lots of it is also key for a true functional deep composting litter.
Many people keep a deep litter, but it is not a composting litter. The primary difference is the type of substrate, and the amount of moisture. Deep litter, typically shavings which is dry will not compost.
But, if the litter is made up of more natural and varied materials: leaves, grass clippings, garden debris, AGED wood chips, hay, straw, and there is moisture involved, you will have a true COMPOSTING deep litter.
As for your waterer, yes, it's a good idea to keep it elevated. I built a stand for my heated waterer. Other folks use cinder blocks. Hanging the waterer is also a wonderful option.
My friend,
@Beekissed is the queen of composting deep litter. She actually has to ADD moisture to her DL to ensure that it is not too dry! I'll see if I can find her video.
I was not able to find her video, but here's a post that shows a pic of her DL. You can see that it is a far cry different than dry deep shavings litter. Look at post # 2137.
https://www.backyardchickens.com/threads/deep-litter-method.70/page-214#post-17614733