It's a Black Special Epiphone SG, it's a piece o shit.

If I sanded down all the paint off of it, would it look cool if I poured some lighter fluid all over it (or just on parts) and then burnt it off the guitar?
Check out my music, if you please.
It would look like a burnt piece of wood. If you think that is cool, then do it.
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it would be kind of hard to draw with lighter fluid wouldnt it?

nah, as long as ur careful, i guess.
Check out my music, if you please.
use a cotton bud and dip in in the lighter fluid and draw it like that.
Its your guitar do what you want.... The paint on your guitar may also burn too but not as well as lighter fluid. Also i heard somewhere that lighter fluid burns out quickly and it does not effect what ever its been put on? Maybe i'm wrong...
Good Luck, I think