No good, unless you have a fresh air supply and protective gear.
I started out a couple of years ago with a CH "5" hp oiless and a smaller HF blast cabinet -I barely used it because of too much moisture being generated and started clumping up the media.
The compressor I pictured I picked up on Craigslist a couple of years ago for a good price. With this compressor and the Snap-on cabinet I have now it's a joy to clean parts instead of a hassle.
Is this a "one-off" task you're doing - or would you find other uses/parts to work on?
If it's not a one-off, I'd wait until you can get the right tools or you'll not only throw good money after bad you'll waist your valuable time as well.
I know I have a hard time letting go and farming out work but sometimes it's just better ~ unless you have the space and money to buy the tools!