Ok, the 2003 has the same configuration as my 2006. One caliper brakes the entire rear axle. The caliper is on the right side.
That rubber cap you see on the caliper covers the bleeder screw that you want to loosen.
Locate the brake reservoir under the rear of the seat, on the right side. Clean the dirt off the best you can before you loosen the cap. Remove the cap, fill it with fluid (it probably stipulates DOT4). Remove the rubber cap over the bleeder on the caliper. Loosen the bleeder screw and wait for it to drip. Put some rags, or a container under it. Let it drip for a while and keep filling the reservoir. DON’T let it run dry, or you will introduce air. What you are effectively doing is called “Gravity Bleeding” the brakes. It will flush out the contaminants . Moisture / condensation, debris and old fluid hinder brake systems. When you gravity bleed you get rid of the old fluid, contaminants and air.
After you get a steady drip of fluid, you can bleed in the conventional manner. Close the bleeder, pump, hold down and open the bleeder screw. Just remember, don’t let the air back into the system. Keep the reservoir full.