i recently painted my first machine, so this may or may not be good advice.
I used a lot of primer, prob about 4 coats and made sure it was covered well. 3 or color and about 5 of clear. I used a lot of clear so I could sand it smooth.
I waited 24 hours after primer, light sanding, then color. I just waited a few hours and then added clear coat. Waited 24 hours and sanded the clear coat.
The main problem I had was painting the compressor area. It was very small area and I had a lot of trouble moving my hvlp gun around. I will prob look around for something else with my next machine. Again, i'm sure this is not the correct way but it was fun and turned out pretty good. I made the mistake of painting when it was to hot, so be careful of the temps when you paint.
Good luck