inexpensive and work that way. Its difficult to get them NOT to spit instead of spraying or atomizing. Then you have to dilute the paint to a very precise viscosity.
Now, I will admit, I have one sprayer and one power roller that I crank up for very small jobs. The reason why, my big rigs take about 30 minutes or more to properly clean out. The wagner's take maybe 5 minutes. so, when I have a spray job, like wicker furniture or patio furniture, I will crank it up.
But, for what your describing, a fence, this wagner is too small and will only cause your frustrations.
I vote for renting also. But, ask the rentor to pressure the rig up and spray water to test how it does and to show you how it works. These rentals are nice IF the rentor takes good care of the rigs and the previous renter cleaned it out properly.