For just starting out i bought a dual action airbrush for ~ $15, and a 3 gallon compressor for $59 at HF. You can definitely get the basics down this way and if you like it move up. Make sure you learn how to keep the airbrush clean, and also have between one and two moisture traps depending on the lenghth of hose you use.
Createx paints are cheap and can be purchased at all the hobbie & craft stores. Hint: shake well and cover cap opening with a piece of nylon to filter clogging chunks. It is a painless way to eliminate a ton of beginner headaches.
Best of luck, I'm sure a number of other with a lot more experience than me will chime in.
Welcome to the madness
MS
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