Picked up the desk off of bismanonline for 50$. Each bottle of paint is roughly $5. Half of that row is stacked two deep. The helping hands thing cost $6 on ebay. Not very good quality but it works. My wash bottles are just condiment bottles from walmart. I think those were $1 for the set.
I use a Badger Patriot 105 with a super fine detail needle kit. The needle it comes with just sprays too much paint.
http://www.amazon.com/dp/B002W84GTO/?tag=nodakangler10-20
The Super fine detail kit:
http://www.dickblick.com/products/badger-airbrush-needlenozzle-replacement-kits/
Createx airbrush paint:
http://www.createxcolors.com/airbrushcolors.html
I started off with a little compressor that was maybe $60. If you have a pancake compressor or smaller 8-6 gallon compressor, they will work much better. In fact, I'm in the process of buying a different compressor because mine starts to overheat after one lure. You just need to have an inline moisture filter in place and a couple different connectors to neck it down to the air brush hose.
For top coats, I use devcon 2-ton 30 min epoxy or Moisture-Cured urethane. You will need some mixing cups and disposable paint brushes. I think you can get 100 brushes for a dollar at most big box stores.
Templates and stencils are limited to your own imagination. I've used masking tape, plastic sheets, combs, loofas, hole punches, exacto knives, fingers, etc. to create patterns.
First and foremost, watch some youtube videos on painting lures.
