type of house paint
You also might be referring to an elastomeric?
Most paint companies have similar products to these.
It sounds to me like you are trying to get away with one coat - no primer - and want it to last???
Do yourself a favor - regardless of the claims the manufacturer makes follow good painting procedures:
1. Clean - remove dirt/chalk/mildew
2. Scrape - whatever will come off.
3. Prime - with a top quality primer - I prefer oil on exterior wood - but latex is ok too.
4. Patch/caulk - any holes or cracks - with a top quality exterior caulk or patch.
5. Paint - with TWO coats of 100% acrylic exterior paint - top quality.
Use a great product - follow these steps - and it will last a long time - don't, and it won't!
There is no paint that will last a life time and if it does not all they will give you is another gallon of paint if you still have the receit that is.