why would you assume its starving for water? do you have pictures, they can have a natural weeping habit.

that being said I wouldnt be too worried abou it. I almost completely neglected my Carambola after I decided it was taking too much room in the yard I dug it up severing some of its rootball and threw it in a container where it endured our brutal winter completely defoliated only to reemerge in the Spring. Ive decided to bonsai it do to its vigor.

I planted a bareroot FL Prince Peach in the same schedule. It looked like a twig/pitchfork with little buds. I planted it sprinkling the bareroots with Mycostim, and within few days I had leaves. I watered daily and never saw standing water. After a couple weeks I saw a drastic change for the worst, ending up with a dead "stick" in the ground. When I removed it yesterday, the bark (sub soil level) was rotted and fell away like paste... It was only in the ground for about five weeks total? Did I overwater? Looking back, I may have planted about two inches too deep. I couldnt tell exactly where the soil level was before, so I planted with the union just above soil level.. Any ideas what happened?

Sounds like you planted it too deep. If you did plant it two inches too deep, thats very severe. I actually like to plant my trees about 1-2 inches higher to account for settling of the soil.

Newly planted fruit trees may need frequent watering but in general, I've read that fruit trees should be watered more deeply but less frequently and this may be the reason some people don't recommend planting fruit trees on lawns.

Pictures will help. Next time before your automatic sprinkler turns on, try digging down into the soil about 8 inches deep or so and feel if its wet. The top of your soil may appear dry with no standing water but the subsurface can be puddling up.

Do you have gophers or do you see any holes in the trunk of your trees which may indicate some sort of boreing insect?