Second coats on similar colors are almost never recogicnized as being needed until the coat is applied and has dried. ONLY THEN WILL YOU SEE WHETHER IT NEEDS A SECOND COAT or not. Yes, painters can use a cheaper paint then what you paid for. That is solved by getting your own which, I would charge extra for because I will always have to go get more, or add second coat because home owner tried to skimp on paint, or they got the wrong color etc...
Interior Painting and Restoration: Interior painting for antique buildings often means painting or papering over plaster, which cracks as the building settles and results in moisture stains. Arch Painting remedies these problems by filling and sanding cracks and applying bacteria-resistant primer over discolored areas. Need light carpentry renovations to provide a flawless foundation for your paint? We’re happy to accommodate.
You can save a bundle by doing the labor yourself. The biggest DIY expense is paint. Other expenses include buying or renting supplies and equipment, like caulk, primer, brushes, rollers, tarps and ladders or scaffolding. Freeman advises applying paint with brushes, not a sprayer. “If you overspray all the window frames and overspray your shingles and your sidewalks and the brick on the front of the house, you do damage that is not easily fixed,” he says.
Every home has details that can be accentuated for amazing looking visual appeal and first impressions.  The key is to not make the wrong details stand out.  Entryways, windows, shutters and other details on the home can be painted to make their design noticeable.  However features such as gutters, downspouts, external air conditioning systems, unevenly proportioned windows and protruding garage doors should not be completed to draw attention to them as this will provide a negative results.
Oh, where to begin? Let me start with 'watered down paint'. 25-50% before the material gets to the site? Impossible. You would basically be painting with water at that point. It would be less of a hassle, and cost, to simply use proper material. You would be forced to apply three coats instead of two, as the coverage would be horrible. Whatever cost you think might be saved in materials would be lost in labor.

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