Well online bully can be done. It wouldn't take forever their are certain programs for bully that work with GTA SA they run on the same engine and frequency. Basically if someone takes a program from GTA SA and runs it with bully it may be able to run online if not then here is what you do maybe I have it down.
Changing all factions in game to player1 with hex editor will change the games settings. I will try this and see what happens changing bully's bully.exe to function with a internet frequency. I don't know how to do this but I will look into it.
The player1 on bully is controlled by a player or (Human) which is different between from the AI.
If you try to change some AI to player1 that is one step to having online players. Every AI will be disabled and only players will be in free roam.
Thus after doing this trying to disable every character from free roam won't be hassle. Just change their factions and they will be disabled. Russell has a scripted spawning near the gates and in front of the bully's turf. It will be the only player two players available.
Then after create a program with a internet's attachments. Using Microsoft Visual 2010 should be perfect it will allow you to create programs with an online attachment. Scripting this in won't be easy just look up online how to make muliplayer games.
After this Go to Microsoft Visual 2010 and create a file called BullyMultiplayer.exe you will use this for the new exe for bully and delete the old one. Just decompile the bully.exe and then add all the files to this file. After this is done look at this video
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How to create a GTA SA:MP Server [Part 1] /Voice over)
It shows the basics on how to make a multiplayer. I am doing this as a type i'll upload and let someone try it if it works. Then when you make that program make sure you save it and make sure you change all players to player1.
Then when people join create a custom ped list in Microsoft Visual 2010. A script hook as it probably will be add a list of all characters from Jimmy to the last character in the ide.img.
Once this is done refer to the games names of characters like N_Earnest. Then once you add this you have a basic online multiplayer for bully I am not saying I am right or wrong on this post I will try it and others can to after I am done I will upload this file and my ide.img and then the moment people have been waiting for will be done.
Their is also probably a way to switch players in this multiplayer mode as I said before you must switch the players to player1 and then create a script hook for the multiplayer file with a list of peds then put his folder to run with the bully.exe trainer then switchable characters will also be available. As I said I am not saying I figured this out or did this just suggesting something for other modders to do if you want mutiplayer have fun trying
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Also GTA:SA has the same type of mainframe as bully using that how to create a GTA SA:MP might help allot even better just creating new scripts for everyone else might be hard. Just look at the video and you should have it done.