Hiring of a scribe, bookbinder and other specialists is more problematic. The covenant's modest source of income won't be enough to support those. Plus, there would not be enough work for a full-time position.
Setting up the library is easy enough. The covenant map already shows one of the room large enough to have a combination library/coucil chamber. Although, with the number of magi reduced to 3, there is room to spare for a separate library.
Which leads to a question: Where does each magus set up his sanctum, and what do you do with the other chambers? (Covenant map)