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I think it would be VERY costly (time and $$$) to do that. You might spend more money adding insulation on a project like that than what you spend to buy a 70s RV. I suppose if you REALLY wanted a 70s RV maybe it is worth it TO YOU. But if you ever go to sell it, it would be unlikely someone else would appreciate it (aka: They won't pay much more for it).
Seems like it could easily cost a few grand, especially if you have a shop do the work. Instead, you could use that money towards heating the inside of the RV whenever you use it. If you almost always camp with full hookups, then a $50 space heater or two will keep the inside at whatever temps you want. If you are boondocking, it won't cost much (compared to your proposed modification) if your propane furnace runs a lot more when you go camping.
I guess it also depends how often you will be using the RV. Will you be living in it full time for several years? If so, I supposed it starts to make more sense. If you just plan on using it 2-5 times per year for vacations that are a couple days or a week long, then just spend a bit more on heating inside while you are using it.
Good luck!
Chris
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