I'm not an artist but I buy those "cheap acrylics" for my garden statues which need painting every year or 3 depending. I must say if they can spend 6 months in rain and sun before they fade, they should do quite well on canvas. The colors are as shown on the bottles. I build furniture and I garden, I start cheap and as I get better I get better tools. An expensive tool is no better than a cheap one if you don't know how to use it. Many times when I am painting I add water to the paint to make it thinner, or so that it won't dry as fast. In these cases it makes sense to use the student grade. Brushes are also a personal decision. Use what you like and make sure you clean them after use.