I have not done it myself but, I believe it is possible to turn a wood lathe into something that will function like a metal lathe as long as you do not mind the lack machine thread cutting and power feeds. The way you would go about this is to get a X Y table and mount it on the bed of your lathe if it has a big enough swing. If your lathe's swing is to small you can mount a chuck like you would for outboard turning and mount the table to the left of your headstock. The real trick with this is getting the horizontal travel of the X Y table to be perfectly parallel with the spindle, and everything has to be perfectly level otherwise your tool bit will not stay on center. After your table is mounted all you need is a tool post and some tooling. One of the problems this set up could have is a lack of rigidity which would lead to chatter. This method will give you a very small and primitive metal lathe, but for about the same price as it would cost you to set it up you could get yourself a small metal lathe and save yourself a great deal of frustration