I often use latex in my HVLP. You do need a 4 stage machine, and I add 2 oz of water and 2oz of floetrol per quart. Does a good job.
Though a little slow, you could use it to paint a house. You would need a remote container to hold more paint than the quart attached to the gun. Using a large nozzle, you can lay down quite a bit of paint, and it is still easier than doing it by hand. Also, a good reason to justify the cost of the machine
However, an airless is the way to go. MUCH faster.
ULS X-660 60 Watt
Corel X4, Wacom Intuos 3, Photograv 3, Inkscape, CAMASTER 4x4 with 4th axis