~Before~ (I forgot to take until I had already started painting)
It was actually very easy and only took around 3 hours total. I used normal Flat Latex Paint (Lowe's) mixed with Textile Medium (from Hobby Lobby - don't forget your coupon!). I used a mix of 1/3 Textile Medium to 2/3 Latex Paint. In the future I would use 1/2 & 1/2 mixture to give the material a little more flexibility. I used less than 1/2 gallon of paint for the whole couch. Make sure you spray the material down with water before starting to paint, the water will keep the paint from absorbing too quickly.
I love the final product. The couch was a little stiffer than leather for around a month or so, but once it was worn in a little it became super comfy. I have had it as our main couch for around 2 years with no issues. Best part - it's water resistant! If you spill something it bubbles up on top and you can just wipe off.
Have you ever painted fabric furniture? If so, how did it turn out? I would love to see pictures!