I recently undertook an expansion project for my layout and decided to use foam board for the first time. I chose 1/2" thick R-3 Owens Corning from Home Depot. My idea was to paint it in camouflage color to more realistically represent the varying colors of a natural earth. I dove in with not enough research, and quickly found out after my first coat of paint that I had left the thin film on the foam board. That turned out to be a good thing , because I had used the Rustoleum oil based spray can paints instead of latex. Realizing what I had done, I then decided to tear off the film and start over looking to use latex paint instead. No harm done to the board because of the protective film.
Next I was able to find at Menards a FOAM PRIMER (spray) by Rustoleum, which when used, allows you to follow up with the oil based spray paints I had originally intended to use. But that foam primer is about $6 per can and the board really soaks it up. I was doing one 4 x 8 sheet and one 2 x 8 sheet. I only did one coat of the primer as I was too cheap to go back and buy 2 or 3 more cans. I made sure that I sprayed the edges well. Then I followed up spraying my boards with three different tones of Rustoleum spray camouflage colors--a forest green, a brown, and a light beige/tan. All are FLAT colors. I sprayed in somewhat random patterns. Because the coverage of the primer had not been 100% and was only a single coat, there was some "blemishing" and slight eating of the foam where the enamel based paint got through. Probably not more than about 1/16" inch. This made some portions of the surface somewhat less than perfectly smooth, but then again, neither is the earth naturally smooth. I actually now think that these blemishes ADD TO the realism of the resulting surface, an effect that I stumbled into by being less than a perfectionist! I probably spent more in spray cans than many do when starting with a brush-on single color latex. Today I am 24 hours after the last coat and I see no warping or additional eating of the foam, fingers crossed. Later, when I landscape the board, I can accent areas with preferred colors. See attachment--this is about 1 square ft in size.