HVLP's are good for everything. Most guns come with tips specific for solvent paint use. I suggest you get a good gun if you are serious and like the Job done with the least amount of fuss. Finex is a good brand and is cheap.
As for a compressor a good 120V unit is a hard one. I always suggest people find a non oiless unit (a motor and belt uses oil). They are quieter and put out more air and last longer. If you are serious look to see if you can add a 220 outlet in your house rather than settle, Your money outlay is certainly in the proper range for a 60 gallon unit if you shop wisely. If you cant do a 220V unit try looking on Craig's list and see what comes up. I saw a 7HP 120V craftsman a few weeks ago with a 60 gallon tank,but it was oiless. priced under $150. You can live with the noise for that price.
As was just mentioned in a recent post you only need a touch up gun with a small cup, that will also save you money. Guns also come with different air requirements so shop wisely. Gravity feed gun is suggested..