[noobieguitarist]

ok well i am rebuilding one now the first step is to remove the old paint start out with a 50 grit sand paper and remove ALL of the old paint. Once all the old paint is gone you need to start changing to a finer grit. 50-80-100-130-150-180-200-220 and finish off with steel wool the finer the grit you finish with the smoother the guitar will be. eventually i would use an emery cloth before painting. as far as applying the paint just make sure it is done evenly let it dry for atleast 24 hours and then clear coat it. personally i am going to woodburn a design into the one i am fixing and stain it with a light cherrywood (i think) hope this helps.

// edit ummm this is kinda of obvious but just thought i would make sure it is in here the real first step is to take every thing you can off the body. also the neck and head if you are going to refinish it aswell. As i said an obvious step but extremely important.

// edit added 220 grit sandpaper and steel wool to the sand paper progression