Is there a way to place a camera in one part of a level and have it play on a monitor in another part of the level in real time? Like a monitor at a security station.
Yes, search for “Render Target” and you should find some examples 
Yes you’d be Using a camera actor to update a scene capture 2d
Yeah, there is. Here is a little tutorial to get you started:
Here is another tutorial:
Just a hint for your monitor setup: Use the plane they use in the tutorial and overlay it on top of your monitor. Then it will look like it is security footage on the monitor :). You can scale the plane you are projecting it on to the screen size of the monitor manually.