Hi @az-bengal the HVLP system stands for "High Volume Low Pressure," whether to go with HVLP or Syphon is generally up to personal preference as they each have their own benefits and drawbacks.
The spray systems available for rent at Home Depot are likely intended solely for painting houses and most likely would not be compatible with our paint. We have never put our paint through a latex sprayer, but I would not recommend trying it. Harbor Freight sells a few different options of both HVLP and Syphon spray guns for as low as 20-30 dollars, HVLP being the cheaper of the two. They also sell small portable compressors if you have limited space available for one.
Hope this helps!
-Jack