Second: all the tricks of the trade in regard to "cheating" customers is for hustlers and cheaters and NOT established businesses. At the end of the project the job should come out looking professionally painted as specified in the contract. A selected color that takes multiple coats that was not calculated by the contractor should cost more money. It's not the fault of the painter.
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Oh, where to begin? Let me start with 'watered down paint'. 25-50% before the material gets to the site? Impossible. You would basically be painting with water at that point. It would be less of a hassle, and cost, to simply use proper material. You would be forced to apply three coats instead of two, as the coverage would be horrible. Whatever cost you think might be saved in materials would be lost in labor. House Painting Arvada Colorado