Hi Tony,
Welcome to the legendsracer family!
I saw your question posted over on DCR. As CHUCK pointed out, the suspensions are different. The legends cars have to meet the spec INEX rules; Therein lies the difference.
Legends cars are not as adjustable as the dwarf cars. Things like suspension mounting points, trailing arm and upper link are regulated by the INEX rule book. The front suspension is still pretty similar to what is being used on a lot of dwarf cars.
Can a legends car be converted and be competitive as a dwarf car; Yes.
Something that you may want to do is check the current INEX rulebook and compare it to the dwarf car rules that you will be using. Modifications can be made to fit your rules.
That should help you figure what modifications you will need to make to fit your sanctioning bodies rules. It will also help you to figure out your time and cost to make whatever modifications will be necessary.
Steve