Back to the article. You can add water to all latex based paints / thinner to oil based paint. The tinting base has absolutely nothing to do with it. Say you are working outside and throughout the day you have to add a little water to keep the same consistency. If somebody really tried to add 20% to 50% water they no longer would be painting they'd be performing a whitewash or pickle finish.
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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. 
Thanks, all, for your time & efforts adding to the article & comments, especially Dave urging requesting both General Liability AND Worker Compensation insurance certificates to protect from real & fraudulent liability--from my experience especially in California, where insurance fraud is a popular income thief, even causing car collisions to collect.
Watering down the paint 50%? It will not cover. I am a contract painter and found that most people that I make a contract with immediately try to change the deal and get more than they are paying for. Sometimes, I let them cheat me as they may have other work that I wish to do but other times I put my foot down. I try to get the client to look at what I have done each and everyday if I am going from room to room. I cannot do this If I spray the entire project at once. Even when I have them inspect my work, they often just do not tell the truth and wish to scam me the contractor for more and more while paying the same as the original contract. Most people have not a clue how much work is involved in painting a house and just assume that the painter rolls out the work with no prep, sealing off the place to protect things that are not painted. All of my contracts state that if anything is in the way like babies, dogs, cars, plants and furniture that I cannot proceed and that it is their responsibility to move this stuff. I always seem to be turned into a furniture mover and never get paid to wrench my back. Fact is most people try to rob the contractor and this article tries to make it seem that the contractor is robbing the homeowners. My sister is a prime example of this as she always goes for the lowest bid yet expects a world class job. This means if you pay $500 for a two day paint job do not expect the contractor to live at your home for two weeks and make only $500.
Most painters have no problem painting doors in place, but they recommend you lay the door on sawhorses and work horizontally. If you have a paneled door, start with the panels and work from the outside edges in toward the center. "Watch the corners — paint loves to puddle," warns Dixon. While the paint is still wet, lightly "tip off" the panel with an almost dry brush. (Tipping off is pulling the brush over the surface to level out the finish.) When painting the stiles (vertical) and rails (horizontal) just follow the grain of the wood. When the grain changes abruptly, for instance, where the rail meets the stile, don't stop your brush stroke — you'll only leave a lump of paint. Apply paint across the joint with a full stroke, and then tip off the overlapping section by pulling the brush in the direction of the grain. "Make sure the door is dry before painting the opposite side or rehanging it," says Maceyunas.
These days, it seems like anyone with a paintbrush and a business card can call themselves a painting contractor. Homeowners who are most likely to be taken in by these unscrupulous “painters” are those who are focused on cost and cost alone. With painting, like anything else in life, you typically get what you pay for. If the painting contractor you are considering cannot answer these ten questions, proceed at your own risk. If they answer all ten satisfactorily, then you know you’ve found a great great professional contractor to work with.

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Some proposals simply say to paint the walls and ceiling and never specify the number of coats to be applied. If the colors are similar enough, it's possible to get away with one coat of paint and not discount your pricing. No matter how hard you try, tiny, pin-sized air holes will pop exposing the original walls. This may not bother you if you can't notice it, but principally speaking you should have paid your painter less for the work.
This was very helpful. I wonder if i would really follow through and check to see if my painter was cheating me. I used a painter I found on Angie's List. This was 5 years ago. He did a great job. I know he did patching only for about a day and a half. We decided on the kind of paint before he started. that is what he used. I don't know if I could stay on top of him and watch him open every can of paint.
I put out a request for bids to several local house painters and quite a few seemed high. One was for over $6000 for painting the exterior of the house with putty fill as necessary, paint included. It was for him and one other guy to do the work. I said, "it's going to take you guys quite a while to get this job done" and he told me that no, they could do it in 2 days. I don't know about you but $1500 a day per painter seems more than just a bit high. I went with someone else and they had several people there for several days working like crazy and did a great job. There are too many scammers.
I have a Home Improvement/Painting business, and Angie's List always advertises that that everyone is out to get them. Of course there are people who try to take advantage of homeowners My reputation and repeat business is based on word of mouth. Shoddy work is always a way to get put out of business quick. As far as strictly painting, preparation is a big factor in getting a quality paint job. If you don't prepare the surfaces you are painting you are spinning your wheels, and wasting money, no matter what paint you use. Getting a deposit from a customer is beneficial, but not always necessary. Sometimes it is a godsend, when you get stuck by the customer, which has happened to me more than once
Removing and installing wallpaper can be a tricky task. The crew at CertaPro Painters® is skilled in removing wallpaper and will make this time-consuming task, hassle-free for you. We will work with you to help you choose a wallcoverings style that’s perfect for your home, and then apply it to your walls. All you’ll have to do is enjoy the final look.

The companies with the best paint products are Benjamin Moore, Dunn Edwards, Sherwin Williams, and Vista Paint. As a painter I don't recommend Berh from Home Depot as much because it's quality is just marketing. Flat paint has no sheen and it shows its true color, but is not easy to wash or clean. Satin, eggshell have low sheen and is washable. Semigloss ang glossy has a high sheen and these paints are recommended for bathrooms and kitchen or where there's high humidity and steam.
I am in northern Nevada and you have not yet gotten sufficient responses to provide a painting cost chart showing the averages.  I do have a quote from an outside (Not Homeadvisor referral) painter who is local for $2,750 for soffits, patio cover and posts, Garage facia (redwood clapboard above (~300 ? Sq. Ft.) on a 2046 Sq. Ft. home where the walls are 9 ft tall and it is fully stuccoed with plastic stucco surfaces, so not being painted.  
Keep an eye on the new cans as they're being brought in. Make sure they look new and don't have paint in the rim of the can. If it's a five-gallon bucket, check to see whether the lid is still sealed on with the plastic strip. The only time it's acceptable to mix water in the paint is when you're using a deep or ultra deep base paint to reduce its stickiness, which is rare with new paint technology. Dark primary colors are composed almost entirely of tint that makes it very hard to work with without adding water.
A painter's rod, or pole, can help you paint ceilings more quickly — no climbing up and down ladders required. And there's no need to stand directly underneath the area you are painting, so you won't catch every wayward splatter. A pole is also great for walls and floors. The pros were split over whether the 4- or 8-foot pole is best for everyday use, but they all agreed that a telescoping rod is the best bet.

Ideally, you want as much paint on the brush as you can control without making drips or blobs. To do this, Doherty dips his brush about 1 1/2 inches into the paint, then taps (not wipes) each side of the brush against the side of the can. Tapping knocks off the drips and forces the paint into the bristles. "The brush releases the paint just like a fountain pen," he says. Weeks agrees, saying, "Just be sure to keep your brush moving, or it'll start to drip." For more delicate work, such as when you're painting trim or window sash, you'll want less paint on the brush. Doherty again dips and taps his brush, but this time he also scrapes the sides against his can. "The outside bristles are drier and easier to manage," he says, "but there's still plenty of paint on the brush."
The time needed to complete an exterior paint job varies depending on the size of the home, the condition of your home’s exterior, the weather conditions and type of paint used on the job. An average project lasts 3-4 days, while a complex project may take a week or more. Additional time may be needed to fix loose or damaged siding or add primer to areas without coverage. Your painter will provide a timeline that explains how long the project will last and will schedule the job to avoid inclement weather.
CertaPro Painters® provides a range of custom interior and exterior painting services, allowing for a smooth, seamless experience and exceptional results in every home. Whether you’re having your two-story foyer updated or refreshing the paint in your home’s bedrooms, the CertaPro Painters® team approaches every painting project with an eye for detail.
To win work, contractors generally have to bid against other suppliers. To make an accurate bid, they estimate the time and materials required to complete the job. They measure the area to be painted and discuss the type of finish the customer requires. They assess the quality of the surfaces to work out how much remedial work they must carry out before painting. They might have to remove old paint or wall coverings, or repair cracks and other damage. They also calculate the cost of any essential equipment, such as scaffolding for exterior walls.

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