Brushes:

If you ever walk down the brush isle at Micheal's it's easy to get overwhelmed. One doesn't really need anything complicated for modeling. I bought a cheap set of 10 "taklon" brushes from Michael's for around $8 that have served me well. For most applications, especially the little details, the smaller the better. It's easier to apply another coat to get missed details than it is to clean up.

Paint:

There are there types out there, Acrylic, Enamel, and Lacquer based paints. What are the differences between them? All I know is that acrylic paints are water based, and easier to clean up than enamel or lacquer which often require thinner.

Generally I use enamel, although I don't really have a reason why. I just started with it, learned to use it, and like the results I get. I'm not sure what the average modeler uses.

Be careful though, some paints don't mix well together, especially if they've been mixed with thinner. If you're going to use multiple types test it out on a practice piece first.

As for what brand or manufacturer, personally I use a lot of Model Master paints by Testors. Lots of color variations that with a bit of mixing, can cover pretty much everything. How do I know this? Because the local hobby shop has a lot of 'em. I'm willing to bet a lot of people are limited by what's available in their area unless they order paints online. I never have ordered any online, you never know how much the paint is going to match the color sample.

Thinner:

Thinner is a must have when it comes to painting. The idea is to apply several thing coats in order to get a good consistency. Thin coats you won't get unless you, well, thin the paint. Regardless of what kind of paint you're using pick the thinner that matches so you don't fuck up like I have.

While I can only recommend using official thinner there are alternatives out there such a lighter fluid (sounds like it would eat away at the plastic even more imho). Acrylic paints, since water based, can be thinned with water as well. The only issue is that sometimes it makes it more difficult for the paint to adhere and dry.

Tip - I like to keep a small bottle around just for cleaning my brushes and a separate one for thinning to avoid messing up colors while thinning.

Droppers:

I find it's easiest to mix paints using droppers rather than attempting to pour them into other bottles. When using droppers it's a good idea to have one dedicated just for thinning. Reusing the same one after mixing paint can cause the rest of the thinner to pick up the color and possibly effect the tone during later use.

If you don't have a droppers and don't feel like spilling paint an easy solution is to use a tooth pick (or similar shaped object, such as piece cut out from an old runner) to guide the paint into your preferred container.

Industrial Strength Toothpicks & Poster Putty:

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Poster putty, or any type of reusable adhesive putty, works great for positioning your pieces for paint. It allows you to paint nearly the entire piece without having to touch it. It's also great at keeping them organized. Just apply a little piece of putty to a part you don't mind getting painted (like underneath) and stick a toothpick into it.

Of course, you're going to need to stick the toothpick into something. I recommend styrofoam blocks. They're cheap, can often be found for free, and can hold up well. You can purchase similar blocks at craft stores and some companies make specialized cardboard contraptions.

Okay, I'm kidding with "industrial strength." I just use whatever brand my local grocery store carries. A lot of people use longer skewers (like the kind used for shishkabobs) as it gives more room to grip and helps spread the pieces out more.

Air Brush:

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[write up soon]

MaskingTape:

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At some point you're going to need to mask off certain areas so you don't get paint on them. Well, that's what masking tape is for!