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.
The article and comments were great information to have before deciding how to go about getting a painting job done. I think the important point is that there are several key choices (who to do the work; color, sheen, quality, of paint; how many coats; amount of prep/repairs to be done and by whom, how long the job will take, provisions for changes, how detailed the contract needs to be; advanced deposit/progress payments/final payment; final inspection, etc.) that need to be made and it requires advanced research and planning in order to become well enough informed to make the right choices. Then it requires spending sufficient time to check materials and inspect the quality of the work while it is on-going, raher than waiting to do it all at the end. President Reagan's philosophy of "Trust, but verify." applies.
If you are going to hire a contractor (professional painter) give a room by room punch list of the fixing of holes small or big, have it identified for the painter to tell you if you need a drywall finisher or if he does this type of work good. Wall repairs can be 3-5 steps to do repairs ( one per day for good drying of patching material and a good sanding) this is what gives you a good paint job only using high quality paint.

Generally, it will take a minimum of two gallons of paint to cover a room. At the highest end, paint will cost anywhere between $30 and $60 per gallon and come in three different finishes: flat, semi-gloss or high-gloss. Flat finishes are the least shiny and are best suited for areas requiring frequent cleaning. Semi-gloss finishes are a bit shiny but can also be easily cleaned. A high-gloss finish is stain-resistant and easy to clean. Traditionally, living rooms should be painted with a flat finish to allow the paint to stand out. Glossy finishes should be reserved for hallways, and a semi-gloss is best suited for trim. Invest in pre-primed paint whenever possible. This cuts down on time by combining the layering process. Almost any paint job will require a primer, which will cost anywhere from $7 to $15 per can. Primer helps the paint to stand out against the underlayer of paint it's covering, especially if the new paint is lighter than the old coat. You will need at least two cans of primer, if not more, to cover one wall. Here are some paint brands and their average price per gallon:

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Hi, I’m Luis. I have many yrs of experience and expertise doing some of the following jobs ; Handyman, Car Mechanic, Detailing, Pressure Washing, Deliveries, Towing and many others. I’m very honest and detail on what I do and you better believe that I personally take good pride on every single job I do. Thanks for looking at my Bio. Looking forward to help you with your needs.
Transitioning your painting business away from these mistakes can be difficult, but I guarantee you it’s worth it. You’ll look back at your business and say, ‘How did I even operate that way?’ Once you start doing things more efficiently and reaping the benefits, you’ll be UNABLE to return to your old ways of running things. Try eliminating just 2 of these mistakes and see what happens!
As a painting contractor I find that most contractors charge between $20 an hour and $45 an hour plus paint and materials pending overhead here in Pennsylvania i figure $30 an hour is a safe bet. figure a good painter should be able to prep a 12 x 12 to a 12 x 15 room, caulk, apply 1 or 2 coats to the ceiling 2 coats on the walls and 1 coat on all baseboards, trim, doors and crown moulding in an 8 to 9 hour day. This is with minimal or minor spackling repairs like nail holes and nail pops, not cracks and peeling tape. Thats extra paint is usually  $30 to $70 a gallon pending quality. A room this size will need 1 gallon for the ceiling 2 for the walls and maybe 1 gallon for the trim, doors ext... the square foot price is $1.50 - $3.00 as far as asking for money up front I never ask. If the home owner buys the paint there is no need for money and if your buying the paint and your an established contractor you have an account with your supplier's.  any ways that's my input and guidelines 

basic formula? single color exterior labor only ranges from $0.85 to $0.95 per sq foot as a BASE starting point. Prices go up depending on multiple colors, slope of surrounding areas, multiple stories..etc.Some painters charge per window to mask off. Ive seen $25 a window to $50.  Interiors without flooring can be factored the same way. When you start having to do multiple colors, cut ins, masking, room isolation...etc. the price jumps considerably. I always start with a base of $0.85 a sq foot and figure it out from there. the season plays a major role too. paint and materials are charged separatly and are typically marked up at a minimum of 15%. I always tell clients this. that way they pick the paint out they want and what quality they want as well. Anyways...thats your base. 1250 sq foot home @ .0.95 a ft = $1,187.50 (one color). Pressure washing, Add another $45-$55 per hour. a 1250 sq ft home is not going to take longer than 2-3 hours if its a single story. 
If you're going to do any part of the painting or prep work on your own, you must know that the first step in preparing a surface is washing it. Since dirt can affect the smoothness of a surface area -- and therefore paint's adhesion to it -- use soap to remove any dirt or stains. Make sure there's no soap left on the walls when you're finished; also make sure to remove any gloss with sandpaper and vacuum up the leftover dust.
As a full service industrial & commercial painting contractor servicing the Los Angeles, Orange, San Diego and Riverside counties, our expertise in commercial & industrial painting is wide ranging and our commitment to safety, environmental and industry standards is second to none. Wilson & Hampton Painting Contractors can handle elaborate painting projects with finesse like Disney’s California Adventure Resort, Angel Stadium's 'Big A', the Los Angeles Grand Hotel, UCI Medical Center, and churches across the nation, as well as industrial and municipal painting projects like water towers, hospitals and schools.
Transitioning your painting business away from these mistakes can be difficult, but I guarantee you it’s worth it. You’ll look back at your business and say, ‘How did I even operate that way?’ Once you start doing things more efficiently and reaping the benefits, you’ll be UNABLE to return to your old ways of running things. Try eliminating just 2 of these mistakes and see what happens!
IF the average cost is $1700 to paint an interior, then that means the cost of paint is approx. $200 (12% of the job).  Or better said 5 gallons of paint (if the average cost is $40 retail).  The average room takes 1.5 gallons which will cover 3 average rooms.  Doesn't sound to average to anyone with knowledge of this industry or a average house.  You are misleading consumers and should do a better job in your research.  No wonder so pay people think prices to get work done by professionals is high.  Its not high, its actually average which is more like $3700.
Our profession is competitive but the way we go about our business is anything but normal when it comes to servicing our client’s homes. We take pride with every single exterior or interior painting project that we undertake because we understand that we only get one chance to prove ourselves to you and your neighbors concerning your house paint project so we make it count, every time.
For starters, a smart Atlanta homeowner should always start out by collecting bids from multiple contractors (we recommend at least three) before settling on a specific home painter in Atlanta to paint their home. Why? First of all, it's just good business. Comparing estimates allows you to weed out bids that are too high and too low, encourages competition between contractors so that you get the best price possible, and it allows you to compare portfolios, references, and personal impressions. Even if you choose to use a contractor referral service like HomeAdvisor.com, who pre-screens contractors and provides customer rankings for your convenience, it's still smart shopping to cast a wide net when it comes to finding a painter in the ATL. Click Here Painting Contractor Denver, CO
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