This is a 4 bedroom we are turning into a 2 bedroom and combining the living room and 3rd room into 1 large family room.

Only if you have tenants with these jobs, should their finances be hit much (every situation is unique though). 

However the current owner is renting it out per room making 4100 for the combined 7 rooms throughout the property.

There are no active declarations for the State and County combination you have selected.

Rental property owners however can take advantage of the unique benefits of low interest, long-term debt to help keep them afloat if needed.

Some people are able to successfully combine 2 or 3 of those things, but it takes time. 

Then you won't really know what that is like until you have an asset that supports its own management staff that you select.Obviously jumping in with both feet and trying to take down a large project at this point has its own risks and mistakes in general are more costly, but it can be done with the right network of people.One other example, I have friends that combined have only ever worked in retail. 

. ;)I would also want to have a discussion with you about the unique market we have and how renovation loans can create large amounts of equity and cashflow to help protect you in light of our recent economy and if that would be a good fit for you. 

I ended up hiring someone else due to a couple of unique features on my roof that he didn't specialize in.

We are still in a Sellers market and COVID-19 has made a unique situation where inventory is going to continue to tighten most likely.