I have only tried one way, and it works for me, so that's the way I paint.
Valleo acrylic paints, they come in a TON of shades, they thin with water, they clean up with water, and they go on like silk.
Get some GOOD red sable brushes, I have a couple 000, some 00000 and 0000000, others tell my they don't hold enough paint, they are perfect for details like buckles, outlining pockets, etc. Don't use the brushes on anything but the Vallejo paint. You will also need a magnifier of some sort, I use optivisor, I know Schnobs uses a magnifying glass on an arm with a dedicated light.
Here's how I painted my first resin figure with Vallejos,
/forums/1169916/ShowPost.aspx
In that thread, i discuss the colors and techniques I used, based on Vallejo website information, Schnob's help, and an excellent toot by Bodge on this forum.
Skip the flesh tones and get light sand and cork brown, mix 50-50 for flesh, that will save you the 3 bottles of "flesh" tones that are all too light.
I am not an expert, but I got these results after only 3 figures. That seems pretty efficient to me.
There are a number of toot type threads in the past month, including a toot contest thread from about 3 weeks ago.
Bill