K4BeeTee
And one thing that jumped out at me which I haven't considered before - is "needing" an airbrushing spray booth...
Bt
I think it really depends on the kind of paint you plan on using. I use Tamiya acrylics for the most part and the odour is pretty miminal. As well, I use a double action (Iwata Revolution) and there is very little overspray. In fact, all my airbrushing is done at my model desk. I just use a piece of blank paper under the part I'm airbrushing and it's more than enough to protect my desk.
I will also keep a window open and have a fan on. (I model in the basement).
I think if you will be using a single action then there will be a lot more overspray.