When I first started diving back in 1987 I bought all the required gear but found it was a pain in the arse to haul it around especially up in the north here where travelling long distances to dive was the norm. Before I quit diving in the early 2000's all I carried around was my wetsuit, fins, mask and snorkel and rented everything else where I could found it cheaper in the long run and a lot easier than lugging equipment around.
As to running out of air you get better with air management the more you divejust remember exertion and excitement both use a lot of air. I myself had just started getting back into the hobby myself and yup I sucked air like there is no tomorrow but I get up to a year off from it now due to my recent medical adventures (yay heart attacks)
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 My aquarium is nothing but a smorgasbord for my cats.....
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