I do have a suggestion that will save you TONS of money & be usable for PC work...etc. Buy.com has a WD40 Turbo Air rechargeable blower. Paid $10 for it about 6 months ago...so may be that much or just a few dollars more. Comes with an attachable brush...an attachable nosile attachment & a recharger base.If you don't have an air compressor, those cans of air for cleanin' yer 'puter work really well for those nooks & crannies... but that can get expensive and yer 'puter will get jealous lol
Just had a brain f*rt...what about using something like a Wagner or B&D consumer air paint unit??? Seen them about about $40-$80 new & at pawn shops for whatever they would sell them for. You should be able to sell it for a few bucks & come away with an easy way to paint whatever...even your home if it needed to be painted after this.Any Tools i have to use or buy?
Beyond the materials needed like the sandpaper, steel wool, and paints there's no tools ya really hafta use or buy, but there's a buncha stuff that'll make yer life easier. If this is the only bike ya plan on doing - then it's mostly just the Dremel multitool as there's so much other stuff that can be done beyond just this job. If ya wanna get a lil more - then it's the 4-5" side handle grinder. Again, it's a multi-purpose tool that can grind, cut, wirebrush etc. so it's an investment suitable for a buncha stuff other than just the paint job. Beyond that it's mostly labor-saving so it's up to you.
Just had another thought...why not get a bare new frame...find the decals & build it up the way you want? Would love to do an "army" type of paint job or candy apple red paint job. A new frame would allow you to choose whatever type of frame you want...rather than just using whatever you have found.