OP, you mention that you want to use a "magnum" action. I am not certain that FN made that length, but stand to be corrected about that. I believe Brevex and Doumolin (spelling?) made those longer actions - just not certain about FN. Unless you meant a standard 98 modified for a Magnum cartridge?
Looking at a couple P14 and M1917 which were designed for single round feeding, I note the much larger nose on the extractor and the space that is cut out inside the receiver ring for that extractor to move outward as it rides over the case rim. If you are looking for a magnum size cartridge, that becomes a bit more of an issue, since the diameter of the rim is usually larger than "standard" cartridges, hence more clearance needed for the extractor to get over that rim - I believe this is why the P14 was so desirable for converting to really big "boomer" cartridges.
So starting from a standard mauser 98, the lip of the extractor needs to be beveled - so material removed. I have several done that way by others, some might be by factories, but I have not seen mauser receivers with that corresponding cut to allow that extractor to move sideways. The above is most of the reason I have thought a P14 / M1917 had some advantages over the standard 98 mauser regarding single loading.
Also, if it was a "magnum" cartridge that you were looking at, I think often times the area behind the lower bolt recoil lug seat has to be shortened - to accommodate the longer magazine. I am sure with proper heat treating that area will have sufficient strength, but I do not see much about "re-heat treating" as a necessary part of converting a 98 Mauser to "magnum" cartridge - referring to the 2.8" + length of cases. I have an M1917 that was rechambered to 300 Weatherby, and the lower lug area on it is not touched.
I had read in Roy Dunlap's gunsmithing book about taking two standard 98 receivers - cutting them across at the magazine area, in an off set manner, and re-welding to create a shorter than normal and a longer than normal "98" mauser - requires similar to be done with the bolts, firing pins, extractors, springs, magazines, floor plate etc. Has been a thread on CGN about doing that - would likely be considered an "advanced" gunsmithing project, but would result in a "mini" length mauser action and a "magnum" length mauser action.