For painting a house you want something on this scale. They are kind of pricey hence my suggestion of renting one. If you aren't happy with it take it back and try something else. This is one task where you get what you pay for. In particular you want something with a ceramic nozzle. It seems that good quality house paint is actually somewhat abrasive and will wear our a plain metal nozzle. The hand held "Power Sprayer" guns have their uses but once you go beyond spraying interior walls you are just wasting your time.

More to the fun part of things, The smaller Paasche equipment is nifty for plastic models and works well for fine detailing and shading on RC models. I think my little compressor is an Iwata. it beats the heck out of those cans of compressed air. For painting RC planes I have used an old Cambell Hausfield siphon feed touch up gun with a small cup of around 4-6 ounces for over a decade. If you are doing stuff like painting full size cars then you want the biggest compressor you can manage but for hobby use one of the compact pancake compressors are a better choice. They are small enough to keep in the house but have enough capacity to air up car tires and run small air tools. As you mention, having a tank makes a real difference.