used to work at Xpress Boat Co. in Hot Springs AR. all repainting was done leaving the original paint on the boat. after removing decals, boat numbers, ect or protecting them in some way, DA the boat with some fine sandpaper first. be sure to clean with solvent, tack rags, or what ever you have. i say go for it. as for the bottom, if you want to refinish it, the boat should be derigged so it can be turned over and put on "horses". big job, but can be done at home. good luck.