See how that conversation goes... a shop/tools would be a huge help.
Would this also be a fallback parking place after it's done, in case of hassles elsewhere? Will the neighbours be able to see it? Will they bitch?
My cautionary tale: I picked up a '97 E350 Corbeil shortbus thinking it would be a fairly quick conversion. Best I could tell, in good shape. Already insulated except for the floor. Seemed like it would be simple! Well, an embarrassing amount of time, later all that insulation with accompanying hidden mold is finally out, along with the floor. I think I've found most of the leaks, and addressed some of them.
If you're trying for a somewhat thorough overhaul/conversion, be prepared for some surprises. If you just want to live in it for a few months and can lower your standards a bit, maybe don't dig too deep looking for said surprises!
Finally, if the main goal is stealth-living in a city/town, a bus is maybe not the ideal choice. A cargo van or cube van might be better.