Any tips for a new builder?
I think I would spend a little more cash and get a Yellow Aircraft F-18 and have a true jet rather than one with a prop hanging off one end of it. At least, that is what I would do. And a 90 mph top speed (as quoted from the website) isn't fast at all, in fact I would consider it boringly slow. A Sig 4-Star forty with a Supertigre GS .40 will top 90 mph!
As far as the painting question, the answer is yes and yes. I have done both. I would like to always pay the same guy to do the painting but he got burned out on painting planes and won't do it any more. So, since he quit, I have to do my own paintjob since most anyone else is too expensive for me. See my gallery for planes I have painted.