Toro Tim,
Just depends on just how good you are at fab work!
I would seriously consider buying one with the Mitsubishi diesel engine already in it, and using yours for parts or selling it to recoup some of the money. If it has a good carb on it, they bring a pretty penny. Coming from a gov auction, it has probably sat up long enough to need rebuilding. Can it be done, absolutely, but it requires some definite "outside the box" thinking. It actually might be easier to convert it to an air cooled engine like the newer ones have.
I need a governor and a carb for the 3 cylinder Mitsubishi, so if you are anywhere in the south, or midwest, I might be interested if you part it out. Actually for those small parts, UPS would probably work from anywhere.
Is yours an open station or a cab? Does it have any optional equipment, like a pto, generator, scissor lift or such?
David from jax