RE: paints for planes (balsa)
Latex paints are fine for glow planes WITH THE FOLLOWING CAVEATS:
1. The paint MUST be clear coated.
2. The latex must "cure" for a MINIMUM of 10 days before clearcoating.
3. Use a fuel proof clearcoating such as Lustercrap clear or Ultracote clear. Water base polyurethane is FUEL RESISTANT (Minwax Polycrylic ). If you use a water base poly let the poly dry for a MINIMUM of 7 days before exposing to fuel residue and do not let the residue remain on the finish for longer than 4 hours. At about 4 hours the poly begins to soften up.
If you decide to use an ACRYLIC CLEAR ENAMEL for clear coating do a test panel FIRST. Check the clear coat for raw fuel resistance, then expose it to the exhaust of a running engine for several minutes, let it sit for a few hours, THEN clean it. You will know right away if it is fuel proof.
SOME of the Rustoleum paints are fuel proof, however I am not sure which ones.
The MAJORITY of ACRYLIC automotive enamels (spray cans) are fuel proof, HOWEVER DO A TEST PANEL FIRST.