Several of the converted buses that are for sale on this forum have the conversion process documented here. Takes a lot of the guesswork out. Buying already converted saves a lot of time & $$. If you have the $$ to spend up front, buying already or partially converted makes the best use of your $$. Our plan for our daughter is to have her look for a full or partial conversion that comes close to suiting her needs. She would live in it for
at least a year and figure out what minor changes need to be made. After that, we do a one time only remodel. She currently lives in our old Class C (since December 2011) and already knows that she does need certain things and doesn't want certain things. She has recently learned why David & I shun RV products so much... she had to order the bathroom diverter faucet (pull a lever and it shifts the water from the sink faucet to the hand held shower) from Amazon or drive 75+ miles up to Albuquerque and then back. Her Jeep would have added a lot of extra gas $$ to the price of the specialty faucet. I guess the high mineral content of the NM water built up to the point to where the lever would no longer move. The campground she is in does not have showers. So that meant she had to borrow her sister's (house) shower. Now she really dislikes RV specialty items.
We are converting because we have more skill than $$ and we had the bus purchased already (it was our moving van). I had seen a BlueBird skoolie conversion that I deeply regret not buying years ago. While it was set up for two people, we could have kept the hard sided popup and let the kids live in it (or bought a very small travel trailer for them) while David & I lived in the bus. Even on two sites, I think we would have been ahead $ wise. But you know what they say about hindsight being 20-20. We had the $$ then to have bought the bus with $$ left over. Instead, we sunk that money into our last house purchase. At the time, paying for two sites (included full hookups & cable) would have been cheaper than the monthly house payment plus utilities! Actually right now, two full-hookup sites in our current location is cheaper than our house payments plus water & electric... not taking into account our C-Band programming we eventually had to buy. And no yard to mow either!
For anyone with a few kids, if they are old enough (preteen) and trustworthy enough, you may want to consider a tag-a-long trailer to stuff the kids in while the parents are in the conversion. Does a few things... gives you a place for the kids to spread out in, gives the parents privacy and when the kids "age out" you simply get rid of the extra trailer (or one of the kids can inherit it). If you do a toyhauler cargo trailer type conversion you can stuff the alternative transportation devices (bikes/small motorcycles) in the rear of the cargo unit.... along with the little beasties... and pets.
Long term lack of privacy is wearing on everyone. I know from experience.