V8,
Just google '.40 size electric conversion', you should get a stack of build threads show up and you can compare notes. Rest assured it won't be cheap, but it'd be a good learning experience.
For a lot of us flying 1-1.3m park electrics a little common sense is worth far more than the insurance fee any day. It frustrates me that you can't go for a sh*t anymore without seeking a formal risk assessment and getting approval from jesus christ himself.