I can see the draw and appeal as many do sip and paint and other random artistic activities. It is so relieving and freeing.
I simply bought myself the proper acrylic paints, brushes, palettes and minis. I had a budget of around $100 and in 9 months and around 50 painted minis, I've only had to replenish paint, brushes and minis. I hit the middle ground well.
I then tried to simply get my color schemes and mixing down. I am in a miniatures group chat, I have a mentor and I plug in to groups and YouTube videos to improve.
I practice, most of all. I was up to 3 times/week and never less than once/week. I would keep about 10 figures primed for painting and paint them to their schemes and patterns.
I have come a long way as I have improved my brush control, paint portion, mixing and cleanliness. I was doing it for stress relief only. Now I want to improve and add more and more to my paint palette and knowledge one. I may spend a lot of money on the right figure to paint but I currently go off the collection I have. I simply have fun doing it! It's like being a kid again.