To strip paint I use a variety of things, remember to test a small area first for compatibility of the plastic, ie under a foot.
Rubbing alchol, paint reducers ( laquer ) paint thinner, I use a Qtip and just keep at it, it takes a while to soften the paint but it does come off, I removed the red logos on teh 12" clone troopers this way among others.
As for taping,
I have used liquid masking for some items, It is OK but for otehr areas I just use an exacto knife and good quality green automotive painters tape.
Or do what Clint does and paint it all