BAR is right on. Be careful using acetone -- it's fingernail polish remover and dissolve or melt a lot of things. Mineral spirits is the synthetic version of turpentine and dissolves the liquid wax that is an ingredient in many varish/paint removers to prevent evaporation while the chemicals dissolve paint. You don't want wax in the wood which will prevent the stain from penetrating. Turpentine will not raise the grain of the wood, nor warp it; but water will, as BAR warned.
Take Brian's advice over mine -- he's a professional and I'm an amateur. Brian restores Enfields for a living and has years of experience; I trust him 100%; he's restoring a Long Branch sniper for me. You can't go wrong following his path.