I have a Campbell Housfield with 4hp and 13 gallon tank, It does ok with the cheep husky gravity feed gun for small stuff (a panel, priming, or jambs).
For the bigger stuff, (2 or more panels, and all over) I use a Croix turbine and accuspray model 60.
For a DIYer, at home mabe it would be less expensive to get a bigger compressor, with at least 80 gallon tank, 2 cylinder, 5 hp, 220 volt.
The main thing is to get the most air flow volume/min/psi. that you can afford. You want a high volume, at a decent pressure.
If you have a compressor that can keep up with 20+ CFM at 40 psi (at your altitude) it will run just about anything you have.
I keep the regulator on the compressor set at 8bar= about 120 PSI.