Removing Undercoating on Gelcoat?

[sunburn]

Hi Guys....

i just got a 1999 Kawasaki STX1100 Jetski from a friend, when he bought it, it had Rubberized undercoating like Duplcoating or something like that on the Gelcoat. My question is what is the best way to remove the Undercoating or sanding it off my only Option? I want to restore the Jetskit and Thought about possibly doing a Wrap on it or repainting....

anyway sorry if this been Covered I been searching and have not seen anything.

thanks
Jeff