For the most part the hvlp sprayers use more air than a siphon sprayer. No more air than you have unless you are working on small projects I would purchase a siphon sprayer. I use a harbor freight #97855 sprayer I get for about 20 bucks and it will spray anything. It would certainly work for your water based finish. If you were to paint a car especially with metallic paint then a more expensive sprayer should be used but a cheap gun will spray wood finishes fine. You really shouldn't get orange peal with any sprayer. It is caused by the paint not being thinned enough for the sprayer you are using.