You shouldn't need a "lot" of masking off. A quick block around the letters with painter tape and newspapers took me about 5 minutes. You don't need to tape around each letter because the plasti-dip peels off in between them.
I used an old plastic card to de-badge the OB badge as well as the "SPORT" lettering on the rear. Should also add that I used black Plasti-Dip to color all my white lettering to black too. If the temps outside are warm enough outside it's actually pretty easy to remove them.