Water flushing and very mild (paper, cotton tip, soft brush) scrubbing to remove remains of corrosive byproducts.
Phosphoric acid (Coca-Cola) sometimes for soaking (at least a few hours, until rust gets dark) rusted removeable parts such as detonator pin.
WD40 (careful, it can damage plastic) or silicone oil (safe to both plastic and metals) to cover and protect.
Red stuff inside the barrel is not always rust, sometimes it's leftover oxidized byproducts of cap explosion that can be removed easier than rust.
Rusted parts I found on my models so far are old Marushin cartridges (they use steel pins and bottoms), detonator pins, blocking bar inside the barrel of plastic models, top of the magazine (lips, follower, upper area. Other metal parts (non-steel) typically just get the reddish accumulation but not typical rust.