We prepped the wall by removing some kids art that was hanging by a display thread. Then we wiped down the walls with a damp cloth just to get dust and spider webs, then patched, spackled and sanded. Next, we applied Frog Tape to the edges. This doesn't take oodles of time, and the results are great. We applied two coats of paint from Benjamin Moore's Natura line -- this is no-VOC paint. It really didn't have any odor at all. We allowed two hours between coats.
Check out our before/after pictures --- we will have another post soon with the completed wall with art.