Seems to me if you see a 20 that already has the things you are asking about done to it then that means it's possible to do. I don't know if you have the skill to do it, that would be presumptious on my part. But there are a lot of people here that have done similar projects. As a general rule of thumb, I would think that as long as you are not impacting the structural integrity of the boat you can pretty much do anything that you set your mind to doing. 
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1987 V20 w/1987 150HP Yamaha on a Shoreland'r Trailer
1978 16.5 Airslot w/1996 120HP Force on a Four Winns trailer
1996 V21 w/1993 200HP Mercury on a Shoreline Trailer
All towed by a 5.7L Hemi Durango.
If God didn't have a purpose for us we wouldn't be here, so
Live simply, Love generously, Care deeply, Speak kindly.
(Leave the rest to God) 
Silence, in the face of evil, is itself evil. Not to speak is to speak, not to act is to act. God will not hold us guiltless.
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