I am going to swap my new brake rotors and pads on today and I want to paint my calipers. My question is do I have to drain the brake fluid out of the bleeder screw to detach them (and is it ok to drain it all out?) or is there a cutoff valve somewhere? Thanks.

 

You dont need to drain the fluid out. Just remove the caliper mounting bolts on the rear and hang them to the strut with wire.