Home Improvement Questions? Ask a Handyman for Answers
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That looks like T1-11 plywood siding so if the inside is foam like it's rotten. Give me a couple minutes to get you links to the products you'll need
You use this to harden/stabilize the rotted wood
and this to fill in the hole
Yes you can paint it. You'd have to take a sample of something painted in that color to the paint store or big box store so they can computer match it.
Do you have any more questions?