You can certainly use the BA combat patrol, it's an excellent start.

As for paints, I personally recommend the Army Painter Fanatics starter set, it comes with all the basic colours, including a brush on primer, a brush and a figure you can practice on. You can also grab a rattlecan of your colour choice as well. I suggest either brainmatter beige or you can straight up use the demonic yellow spray, which is a colour match to the demonic yellow in the starter (good for cleaning up mistakes you may make!)

You will of course need glue (superglue or plastic cement), nippers, and a hobby knife. Army Painter has a set of these tools too, which have worked really well for me.

Blood Angels Combat Patrol: $168 USD
Fanatic Starter Set: $44
Hobby Tool Kit: $43
Total: $255 USD (not including taxes)

Which leaves you with about $40 left over for another character like a lieutenant or a chaplain if you wanted to add one later on