Grinding on your metalic paint is not as scarry as rust. rust never sleeps, it keeps growing.
POR is a great product, and does work. You will need to coat both sides if possible. the bubble may only be the tip of the iceburg
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There is a touch up gun, think the name is Prevale. it is a pressurized top piece with a spray button, and the bottom has a screw lid that screws on a bottle that comes in the kit.
then buy your PPG or dupont paint, primer, and reducer, etc. It works ok for a small area, best to practice on an old fender to get the hang of it. Be sure to buy a spare pressure piece, nothing like almost finished and phssst your out
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I have used these but my Accu Spray HVLP gun works better
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Charlie