Jake's system is how I do it:
Once an engine quits due to fuel starvation you may need to bleed the system to the injectors. Pump the fuel and bleed it to the filter. Loosen the screw on the banjo fitting going into the fuel pressure pump or the banjo fitting itself and bleed the fuel to this fitting with the primer pump.
Like has been mentioned, don't screw the little bleed screw too tight or the threads on the pot metal will strip (really easy). If the treads strip then the solution is to buy an new filter housing. $$$
If there are no air leaks then the easiest solution is to bleed at the injector.
Loosen the screw on the banjo fitting going into the fuel pressure pump or the banjo fitting itself and bleed the fuel to this fitting with the primer pump. Loosen the nuts on the injector tubes at the injectors and roll the engine over. Turn off the water intake. Keep rolling the engine until there is a good amount of fuel coming out of the injector fittings. Tighten the nuts on the injector tube and the engine should be ready to start. It's a good idea to clean up the spilled fuel.
Any fitting that is loosened only has to be loosened the smallest amount and fuel will bleed out. To see if there is any fuel being bled, put/wad a paper towel under or around the injector.
Careful with spinning the engine too much otherwise water will be sucked into the cylinders and bend the connecting rods. Closing the through hull is an option but spinning and waiting for some time is another but how long is the question. Releasing the vacuum break levers allows the engine to spin much faster and easier. When no bubbles are coming out of the bleed area, tighten the bolt, close the vacuum break levers, and see if the engine will start.
Bleeding at the injector end means less messing with the screws on the filter housing and therefor less chance of stripping the threads.
If the engine runs but then dies, either it hasn't been bled enough or there is an air leak.
If the banjo bolt is loosened to much then the copper washers will have to be replaced.