50L is ok, but 100L is even better. You can always add more storage with an old 47Kg propane tank.
It's the CFM that really matters with spraying and blasting, as the compressor needs to keep up with the gun ...12 to 14 is good, you will be looking at a 3HP motor to run that type of CFM.
Facebook Marketplace or eBay and buy 2nd hand, I run two 14CFM's (air fed mask for 2 Pack paint), one came from a scrapyard in the early 90's for £25 and the other was a three phase off eBay (2005) for £45, 2nd hand 3HP 240v motor and its work ever since don't spend more than £75, check the tank is not looking rough, regulators and stuff are pennies so just check the motor and pump work well.