I was taught to paint by a professional and when estimating the amount of paint needed, I always allow for a second coat just to make sure of coverage. We interviewed a painter who tried to tell me I bought poor quality paint without knowing where I purchased it, and stated he would have to buy all new paint. He had not seen the cans and was just guessing so I asked him where I should buy paint from now on. It was the same place I had purchased my paint and he wanted to charge me an extra 20 a gallon more than what I paid for. Needless to say, I have interviewed numerous painters and they are not all honest.
Specify whether the contractor or you will supply the paint. Check Consumer Reports' paint ratings: In its tests, some relatively inexpensive paints performed better than more expensive paints and cost $10 to $20 less per gallon. But keep in mind that most paints will resist cracking, peeling, mold and mildew. Who does the painting — and how well they do it — is more important than what's in the bucket.

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.
When hiring a contractor it is always best to hire one who is personally referred to you by someone you trust. Hiring through ads or phone book is hit and miss. Check with your local paints stores, they know the good guys from the bottom feeders. Go to the stores that sell the high quality paints like Benjamin Moore(nonpareil), Pittsburg, Sherwin Williams or Glidden. Don't go the the big box stores for referrals, the people there don't know squat!
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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