To paint a room, prep first (clear, clean, repair, tape), then paint in this order: ceiling, walls, trim. Cut in the edges with an angled brush, roll the walls in overlapping W-pattern strokes, and plan on two coats.
Latex paint dries to the touch in 1 to 2 hours and accepts a second coat in 2 to 4 hours. Oil-based paint takes 6 to 8 hours to dry to the touch and 24 hours between coats. Full curing takes 2 to 4 weeks for latex and up to 30 days for oil.
Yes, you can paint over wallpaper if it is firmly stuck to the wall, in good condition, with no peeling edges, bubbles, or moisture damage. Clean it, repair the seams, seal it with an oil-based or shellac primer, then paint two coats.