I am in process of remodeling basement - painting exposed ceiling in black, taking off 40 year old wall panel and hanging/painting new drywall, etc. I am thinking paint sprayer since I will be painting large areas (basement is 700 sqft).

Within my limited budget ($300~), I am debating between 2 options.

1) Buy a decent size air compressor (CFM 6-7 @ 40psi / 20-30 gal. tank) & paint gun.

2) Buy a HVLP turbine sprayer for paint job (thinking Wagner 4000) and get a smaller size pancake air compressor for other jobs (nail gun, air blow, impact, inflating tires etc).

For future automotive painting DIY projects, I was leaning towards the larger air compressor option but the guy from Menards told me the paint jobs using air compressor is typically not for painting house exterior/interior. But I think there should be the right air spray guns using the air compressor for the house painting purposes. I did some research but I don't have a clear answer.

1) Any recommendation on spray gun products using air compressor for house projects?

2) Is there any benefit of HVLP turbin sprayer other than portability? How's end result between the 2 options?