Limit the vent hood to 400 CFM, anything more may/will require a MUA (Makeup Air Unit) per code. Additionally, venting out is easier if your stove is on an outside wall else you'll have to fabricate ductwork which can get a little complex if vent wall is some distance away from the stove. I did a similar conversion in my previous home; not bad if you are good at DIY.

Ideally, a 3 ft x 2 ft hood aperture should be able to provide 90 CFM/sq. ft. or 540 CFM at the pressure loss cause by the hood filtering, the ducting and the make-up air path. This typically requires a blower rated around 800 CFM. Smaller hoods require less to achieve good containment, but capture may be less effective as some smoke and grease will more easily escape the hood aperture.

As noted, this level of flow rate in many jurisdictions requires a form of make-up air, and you can read all about it by searching the Internet or within this forum. PineBaron's CFM suggestion above is more economical, and will work if the velocity of the rising cooking plume (a function of pan base temperature) is kept lower than the extremes found when wokking, grilling, searing, etc. Some smoke and odor should be expected to expand into the room, however, when the ventilation is undersized in hood aperture or system flow rate.