Hey Marty, you could get a lot of different answers to your question! Experiment, in the end, you'll decide what works the best for you. Till then, I'll tell you how I paint and maybe some of it will help you out.
I love the look of 'light washes of stain', but I stink at doing it,

so I'm not even going to mention it more that this!!
I paint in acrylics, little bottles of water soluble paint sold everywhere, Wal-Mart, Jo Ann Fabrics, Michaels, etc., etc. I agree with Hi Ho Sliver, start with the inexpensive stuff, you can work up to expensive ones later if you wish.
I would recommend picking up a bottle of extender or flow medium, it's just a liquid you mix with your paint so it doesn't dry so quickly. Water will work too, I prefer using a flow medium, seems to work better. It's going to be right with the paints.
Pick out a couple brushes in the sizes you think you'll need. Always clean them thoroughly after you're finished!
If you want your piece to look antique, pick up a bottle of antiquing medium. I just use the water based kind, if they have it, it will be right along with the paints too.
To use it, make sure your painted piece is thoroughly dry. I like to apply a coat or two of water based satin varnish (again in the acrylic paint section). This will seal the paint and the antiquing medium won't take too dark.
Just paint some antiquing medium on and immediately wipe off the excess. Let it dry and then apply another coat or two of the satin varnish.
That's how I paint, hope it helps!

Deborah
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