Like you guys I 'm a novice at painting. My first bike 3 years ago was a maroon 400 Maxim. As the plastic front fender was cracked, I decided to repair it which was no real problem. The problem was colour matching the paint. While I have had a compressor for years, I was not thinking of using it and opted for what I thought would be easier....rattle cans. Only problem paint not the same. So I ended up repainting the whole thing so it would match. Even clear coated it all and learned a valuable lesson.
Spray can clear coat is not gas resistant. The first time I dumped the bike my shiny new paint was ruined when gas leaked out.
With bike number 2 the "freebie" Virago rustbucket I decided to bite the bullet and have a go at proper auto paint. More expensive for sure but not that hard and a way better finish.
I was fortunate to find a really good supplier who was not adverse to talking to an amateur. He steered me to the simpler formulas and recommended a two part urethane called MTK ( from PPG). This stuff is great all the colour and shine in one product. Any colour you can think of or match from an existing.
Basically you have the paint, a hardener and a reducer. You mix in a formula of 4 paint +1 hardener+1 reducer. Spray with HVLP equipment ( high volume low pressure 15 to 25 lbs).
For bike stuff all you need is a "touch-up" gun ( holds 3 or 4 ounces)and one fill will do a tank and fender easily. No paint then wait to clear coat. Colour and deep shine in one. You could add to the depth if you wanted by doing a clear coat over top but not really necessary. Paint is dry to touch in 3 hours ( for pin striping or design work) and cures in 12 to 16 ( or sooner with heat lamps).
The part that puts everybody off automotive paints is the clean-up ( and maybe the cost...between $20 to $75 a quart for paint, $25 for hardener and $30 for a gallon of reducer). The reducer for the paint is also the cleanup solvent and is really easy to use. Once finished strip down the gun and drop it in a small pail with 3 or 4 ounces of reducer. Swish it around a bit and use a bristle brush. Dry off with paper towel and blow dry insides with compressed air. No biggy.
Paint of this type is a bit expensive compared to rattle can but it is so much better I feel. You only need a pint for a bike but get a quart or so first time out to practice. Set the gun for a "fan" pattern and output pressure between 15 and 25 lbs ( different guns like different pressure. Set up some cardboard and spray away. Keep the gun parallel to the surface about 8 to 10 inches away and shoot several passes. Try to keep the paint looking wet going on but don't shoot so much in one pass that it runs. Build it up.
With this paint, it recommends 2 coats spaced 5 minutes apart for best results and mixed paint can be stored overnight in a sealed container. If left in an open container it will cure and come out like a rubber ball ( i.e. urethane).
When painting with this or any other spray equipment there are some safety points to follow and the most important is proper ventilation and wearing a good quality mask. No cheap paper masks please....they won't do the job. Invest in a proper painter or chemical mask with replaceable filters. Also don't paint anywhere you don't want to contaminate. I paint in the garage in warm weather and I have built a portable 4'X4' spray booth consisting of 4 panels made from 1"x2" wood covered by extra large plastic garbage bags. Assembled like a big box open on two sides spring clamped to a portable table. Keeps the over spray from filtering all over the place.
The only other major consideration for painting is temperature and humidity. Best is a bout 70F with no more than 20% humidity.
If you paint a lower temps try to heat up the work and use heat lamps to cure ( halogen spots work very well for this)
If you have access to a compressor and a cheap HVLP gun I'd give this a try. Lots of fun and not as hard as you'd think.
Hope this helps,
Cheers,
Spyug

After re-reading this post I got to thinking of a few points I missed or rushed over. First is humidity. You can spray in more humid conditions but you should have an inline water trap between the gun and the compressor to insure no misture gets into the paint stream as that will make a real mess. Also more humidity will make for much longer curing times, even as much as several weeks I'm told.
The second thing I wanted to mention was dust and things in the air. I wouldn't paint outside unless it is a dead calm day with no critters flitting around. Early morning is usually best. If painting in the garage, sweep it as clean as you can and wet down the concrete to keep dust down.
The choice of gun is also important as the HVLP guns that are available now are much better than the old style higher pressure guns as they don't create as much paint bounce and more of the paint gets to stick on the piece. There will also be less overspray to find its way on anything close by.
With the HVLP guns it is not even necessary to have a compressor as you can buy a turbine driven unit which is basically like a vacuum cleaner run in reverse. I have seen them in auto stores up here for about $150 or so with gun and hose.
I also know one guy who paints with one of those Wagner Power Painter gizmos and the output is also quite acceptable.
At first it will seem like a lot more work, but once you try it I'm sure you enjoy it and the finished product will look more "pro".
Just remember as the pros say the paint job is 90 % preparation of the piece and 10% paint.
Give it a try.