I found that the only effective way to get a solid base for my project was to use a heat gun and putty knife and go right down to the bare wood. It took a little while but was well worth it. The previous owner had just very very lightly scraped and then painted over the existing “alligator skin” which was peeling again less than a year later.
The wood is Cedar and is tricky not to gouge with the knife but it really looks nice. I’ve done only one side of the house and suspect the rest will be requested.
Oh what fun !