A house painter is designed to spray thicker paint and put on a heavy coat and not atomize it the way you want with car paint. You will end up with thick paint with runs and a generally chunky application. You would get a way better job with rattle cans and a case of beer. If you want to try, all you could be out is the cost of the paint and primer and a bunch of work, but I wouldn't try it.
A friend of mine painted a Suburban with one, in black no less. Paint was thick, and had sags and runs. After MUCH wet sanding it looked pretty good. Was a long way from a show quality paint job though.
Buy a spray gun and rent a compressor. There are plenty of cheap gusn out there. Buy a better one and maybe you will enjoy it more. That is my next purchase.
I have wondered about using the Earlex HVLP spray system - even if just to lay down primer. http://www.eastwood.com/earlex-spray-station-economy-kit-1-5mm-and2-0mm.html
