Thank you AVS members, after careful research on projectors and screens, I have decided to go with the Panny 7000 with the DIY 120" screen for a 2.40:1.
So far my project is going very well and not that costly. As of now on project materials, I have spent so far $60 for the matte white screen, $35 for the pine wood and $40 for the velveteen and including L Brackets and steel reinforcements, that was arounf $15 for a grand total of roughly $150.00 For my screen, the dimensions were 53"x110".
My wife said "so was it worth it or would you have wanted a screen professionaly made?" sigh! If I could I would actually do it all over again with a better stapler and knee pads. LOL!