Join Date: Nov 2007
Location: Palisade, CO
Bikes: Singular Gryphon fully rigid 29er multi-use. Nuvinci N360 IGH
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Part of it depends on the age of the bike. If you have a threaded steerer/headset, square taper cranks, and a cup/cone bottom bracket, each of those will need specific tools (30-34mm wrenches for the headset, crank puller for square taper, standard BB pin spanner, fixed cup wrench and lockring tool). Newer bikes (say 2000 and newer) will likely have threadless steerers and possibly non-taper cranks.
If the bike has a cartridge type bottom bracket, you'll need a removal tool for that.
You don't HAVE to remove the races in the head tube, but depending on the quality level you are shooting for, remove them if you are going with a higher quality paint job.
If your automotive tool set is metric, you'll have much of what you need - allen wrenches, sockets, open/box wrenches, wire cutters/bullnose pliers, etc.