I cant argue with "it would be cool" but unless you have deep pockets in more way than one (money, time and skills) it will be a pita, nightmare and a money pit that never runs. At the very least you will need a mini machine shop, oxyfuel/tig set up.
People like stationary engines (and motorized bikes) because the initial investment is relatively low. The big downside is that unless you keep it simple and stick with the best quality available, things become exponentially more difficult, and more expensive in all ways. (Time, money, energy, tools and skills.)
I'm no expert on turbos or predators but off the top of my head you will need:
-A suitably sized turbo.
-Either contract a fab shop to do it or weld up a custom exhaust yourself.
-Figure an oil pump for the turbo, whether it be a pulse pump or driven off the crank.
-Figure out the carb and jetting for the increased fuel requirements.
-figure draw through or pump through the carb.
-if you want higher rpm, a billet fly wheel, and stronger valve springs.
I'm not saying it cant be done. I'm not saying it shouldn't be done. I am not saying you can't do it. I am simply advising you to research this very well and determine if this is really what you want.
Could be that something different can do what you want easier and cheaper. Could be you can't die happy without a turbocharged 212.