well your going to get into it heavy (it'll suck you right in) & eventually you'll need to sand sometimes & that uses lots of air! more than spraying! you'll be out buying an orbital sander & a dual action sander, an air grinder, then you'll see a cheap die grinder, it never ends & goes on forever!
i know a part time painter that bought a 5 horse 40 gallon upright compressor on wheels at Menards or somewhere for around 200 & when he does a job about once a year the ol compressor hangs right in there & keeps right up!