Prepare the surface for the oil primer. Scrape and sand rust from metal with a paint scraper and sandpaper, and remove loose or failing paint from wood. Apply oil primer by brush, roller or spray to completely dry, clean surfaces. Allow the primer to dry according to label directions. Recommended drying times vary depending on the type of oil primer you're using, but drying time is usually about eight hours.
Clean up tools with mineral spirits in 5-gallon buckets. Allow the mineral spirits to sit for at least an hour until the debris have settled to the bottom of the bucket. Pour the clear mineral spirits back into the container, and allow the remaining sludge to dry out before discarding the buckets.
Sand the primer lightly with 180-grit sandpaper or a sanding sponge when painting interior wood trim, for a smooth surface. Brush, vacuum or wipe off the sanding dust. Exterior or rough surfaces don't usually need to be sanded.
Caulk gaps and cracks after priming, but before painting with latex. Caulking will remain flexible longer when applied to a primed surface, especially on the exterior of your home. Allow the caulking to dry according to label directions--usually about eight hours, but some caulking can be painted within an hour.
Apply at least two even, uniform coats of latex paint to the primed surface, using a paintbrush or roller and allowing two to four hours drying time in between coats.