If you’re looking for a cheap but good airbrush this is newly released and fairly high quality from what I’ve seen. Here’s a video review. The comments on the video also include a discount code that should still be good for a little more than a week.

You don't need airbrush specific paints unless you just really want them. Just get a bottle of Vallejo airbrush thinner and Vallejo flow improver and you can use the paints you already have.

As for that compressor and brush set, I wouldn't really recommend it? You're better off with a compressor that has a tank (standard AS186 style, Timbertech was the cheapest last I looked), and those airbrushes are going to be a PITA to use. I have a Master G233 for priming and I regret buying it, honestly. Will it spray? Yes. ...Eventually. It clogs 10x as often as my good airbrush with the exact same PSI and paint mix.

Airbrush wise, if you want to go cheap, Gaahleri has gotten some good reviews from people who know their stuff, and this airbrush is reasonably priced. Tbh I'm considering replacing my Master with one of these.