Look into a small airless instead of the compressor.
The good thing about an airless is you do not have to thin ANY. They will shoot latex right out of the can even thick ext. The ones that require a lot of thinning are the small HVLP not airless.JMHO but I would not suggest a small airless sprayer for any kind of paint unless you want to thin the hell out of them.There are a lot of options for airless sprayers that will work well but you did not say what your budget was?
I'm just assuming from your OP that the compressor you have would probably not put out enough CFM to spray paint.Look at the serial tag on it and post the CFM rating and we can give a better answer
Well............that's what I thought using a Graco airless handheld which worked fine till trying some Behr exterior All in One latex. Wouldn't run two seconds without plugging up. I've seen a video of a pro using the same Graco on cabinets using SW Pro Classic and he strained it as well.The good thing about an airless is you do not have to thin ANY.
The Graco 16N673 TrueCoat Pro II, max pressure of 2000psi which done fine up till that point is $300-$350.I don't think those hand held models are up to spraying unthinned, but the Graco Magnum x5 would more than likely work, can pick up one of those for $220.00
Are the Graco handheld sprayers really that much of an inconvenience? I am highly considering one for some small projects around the house