Work with a professional painting contractor. If you haven’t done so already, sign on to work with a painting company near you. As part of a professional team, you’ll learn the tricks of the trade and work in a variety of different environments, both commercial and residential. There’s no better way to accumulate practical experience than to do it on the job.[8]
Taking a few moments to read the following few pages could save you both money and frustration by avoiding a bad contracting experience.  The fact is, painters range in the quality of services they provide, and there are many inexperienced, unlicensed and unqualified people and companies that masquerade as professional painters. Many homeowners are so focused on “how much” that they never even consider anything else. This can lead them to hire the wrong company.
This article with comments was terrific - it was so informative. I found the advice useful. It addressed specifics like the condition of the dry wall surfaces, any additional repairs such. pin holes, chalking, smoothing of wall surfaces, absorption of paint and number of coats that may be needed. It should also include insurance coverage, and reflect the clean-up afterwards. Having a written contract with the company's letterhead is a must.

Oh, where to begin? Let me start with 'watered down paint'. 25-50% before the material gets to the site? Impossible. You would basically be painting with water at that point. It would be less of a hassle, and cost, to simply use proper material. You would be forced to apply three coats instead of two, as the coverage would be horrible. Whatever cost you think might be saved in materials would be lost in labor.

House Painter

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