The only hope for that computer would be to replace the 1 TB 5400 rpm disk drive with a SSD. But, then even thinking about trying to do 4K editing on a dual core with only 8 GB of RAM is asking too much in my opinion. The GT 840M while it has 2 GB of video RAM it is only DDR3 and with only 384 CUDA cores really would not be a great help. You of course could try and use just the HD output from your drone. Changing out the disk drive for an SSD and then getting a fast USB3 Flash Drive (like a Patriot Supersonic Magnum that I am using) to act as a second disk drive. You do apparently have a full HD 1920 x1080 display which is good and more than satisfies Adobe's minimum screen requirements
Thanks! So I already have an upgrade to get RAM to 12gb.. And then will look into SSD. Those two, should improve my speed enough it sounds? Obviously will need external HD as well.
Do you recommend a specific (remember I literally know nothing about compatibility!) SSD that's decent but not too pricey?
First what size are your projects? Do you have much data/media that really has to be online? That will help determine the size of your single internal SSD. I have to assume that you have at least one USB 3 port, do you also have an eSATA port?
like bill says, odds are the 2 core cpu isn't up to the task. all this upgrading may not help at all. looks like the phantom 3 can record multiple formats? but i dont see any edit friendly formats/codecs listed. if you can transcode your 4k footage to prores or dnxhd 4k or hd, it will help the cpu alot. if you play back that transcoded footage in premiere and the cpu usage is too high, you may need to proxy edit with 720p or smaller prores/dnxhd clips. once you figure out the cpu usage you can figure out storage requirements for the original and/or transcoded files.
upgrading the storage device holding the media will be most important vs the os/apps drive. other than a fast launch time, once premiere is open a fast os/apps ssd doesn't provide much benefit to premiere. if you dont have alot of footage you can upgrade your internal hdd with a large enough ssd to hold the os/apps and media. the samsung 850 evo's are affordable and some of the best value as they last long and are some of the fastest. im not sure exactly what dimension that hdd is inside your laptop, but the samsung evo's are under 7nm and may fit. you can take out the hdd and measure first to compare against the new ssd's dimensions. if you need ssd usb 3, samsung t1's are available. if you end up transcoding to small proxies or are using mp4 files, you may be fine with a fast 7200 rpm external usb 3 drive to hold the media. if you replace your internal hdd with an ssd, you may also want to look into cloning drives.