Hey,
It can be a little costly when first starting out but its worth the effort if you enjoy doing this kind of stuff.
I personally would always recommend buying decent equipment ( I dont mean expensive just good quality) as this causes less expense in the future if your having upgrade the stuff you bought.
- Any decent compressor will be good doesn't have to be for airbrushing specifically (I got mine at machine mart).
- Water trap and hose (also available at machine mart)
- Airbrush ( try Jon Miller at RCS or if your wanting something a little special the iwata brand are extremely good quality)
- Paint and liquid mask (again speak to Jon)
- scalpel.
- Paint mask (I highly recommend getting something decent here as your health is No.1)
and your on your way

. Let the painting begin!