I am going to convert my Saiga .223, and i was wondering if any one had any suggestions on the best way to convert it. i would like to install an underfolding stock as well but not sure the proper steps...any ideas?
The best advice I can give is to look up Carolina Shooter Supply and watch their vids. I've used their process and kits on two conversion and both came out great.
the easiest way to do it is to buy a bolt on trigger guard, a new trigger group (tapco G2 is pretty good), a pistol grip of your choice, a stock of your choice, and a bullet guide.
This will get you the basic AK style rifle that takes 30 round mags when completed, but does not address the front end at all.
As for the underfolding stock, that is a lot more work and not a simple bolt on. You would need to remove the rear trunnion and install/rivet an underfolding trunnion, and cut the receiver for the stock to fit.
Instead of the underfolder, give some thought to a Romanian side folder. The nice thing about the side folder is that you can open or close the stock with your hand on the pistol grip. The side folder was a simple bolt on stock that uses the Saiga factory trunion and mounts.