Strip/sand the parts down to the metal, and use latex gloves to handle the clean metal.
After removing the paint and rust, tack cloth the parts to remove any sanding dust.
I use Rustoleum automotive gray primer. Works great.
After priming, use latex gloves to keep the oil in your skin from getting on the surface.
Sand it smooth, use a tack cloth to remove any sanding dust and you are ready for paint.
Timothy - I recommend a light color and even white primer if you can get it. If you can't then at least add a coat of flat white after the primer. If you don't any parts that are final coated IH Federal Yellow will need 3 times as much paint to cover well. And for that matter, anything IH White won't need as much finish coat either.
I don't know why it is but the IH white will cover darker primer colors better than the IH Federal Yellow.
Also, for your final coat paint I definitely recommend you get the Case/IH Iron Guard original paint from CC Specialties. There's a link in the boxes at the top of the page.
I would lightly sand it with fine sand paper or a scotchbrite pad. Then tack cloth it. (Don't forget the latex gloves!)
The rustoleum gray primer does not show through either the white or yellow Irongard paint.
You could get by with a tack coat and a finish coat if you want to, but I always put more on to get a deep gloss shine. Plus it won't scratch off as easily.
Any local Case/IH dealer would also carry the Irongard paint. Don't forget to pick up some hardener and thinner also.
Hey Marty - I wasn't trying to cut in on your input. Since you mentioned Rustoleum I thought this discussion was about using rattle can paint. Spraying with a compressor is a whole different game I won't get into.
When I mentioned spraying with flat white over the primer it's because the Iron Guard Yellar spray can paint just won't cover gray primer without about 3 coats, and the final coat ends up real thick to get a nice gloss. I tried the flat white (after my son suggested it) and I only had to paint one thin coat of the Yellar and it would be glossy.
Sanding is the slowest, most painful way to remove paint. I would use chemical paint stripper on sheetmetal (and castings if you don't have a sandblaster). Electrolysis on small parts. For things like the frame and bigger, flat stuff, Black and Decker makes this paint stripping 4.5" angle grinder wheel that looks like a black sponge. It works incredibly well. Wire wheels clean up castings after paint stripper.
Never sandblast a transaxle or engine unless it is a bare casting and you have the appropriate equipment to wash out all the sand afterwards.
If you want to maximize the chances of the paint sticking well, regardless of the paint type, get some R-M 801 metal conditioner and apply that before priming.
I agree with Matt about the "black sponge" wheels. They also are made with a shank for drills. It's called carbon something but the name escapes me right now. They work very well on sheet metal and render shiny metal in no time with little pressure. They can be a little pricey but if used correctly they can also last a good while. Hitting edges or any kind of a snag can tear them up fast.
My bad. I should have explained myself a little better.
I use Rustoleum automotive gray primer in a rattle can. It goes on great and you don't have to be too picky with the primer since it will be covered up anyway.
DO NOT use the red looking Rustoleum rusty metal primer in a can. It sucks!
Now for the paint.
I am hooked on the Case/IH Irongard in a quart can.
As I mentioned, you can get by with a "tack coat" and one cover coat, but I prefer more coats for that shiny deep look.
I do not like rattle cans for the paint.
Why? I am glad you asked.
You never know when the can will spit out a gob of paint, or better yet, quit spraying all together.
That is not what you want to happen when you are painting something very critical like the hood!
Surely you have a small compressor.
Get you a small finish spray gun and some Irongard. You will love it!
Tim suggestion, if using a phone, I stand way back and just crop the picture until it's size(probably in a details setting on the phone) is under the limit slightly. It works easier for me on my Android phone.