if i get an ffl and start a business out of my house, does that give the atf the right to search my house whenever they want.  lets say i am at work at my regular job and they stop by to do a search, can they just 'let' themselves in or do i need to be present for them to enter.  

Not an expert on this but, if I understand the new law correctly, your house doesn't qualify as a 'store front' or place of business.  However, I could be the dumbest jackass on this board, too...[:E]

First I don't have an FFL. My FFL when I was in CA did work out of his home though. According to him yes the ATF does have the right to come in and search your property at anytime. However he has had his FFL for 10yrs and all they ever inspected were his books and that was done at their offices. They came to his house on/or about his second year in business and inspected to see that he had a secure place for his guns and that was it since. He said the all of the inspections he was notified well ahead of time via a letter.

Plenty of FFL's on this board, maybe they can deny or confirm this. I think one of the members, SteyrAUG, works out of his house as an FFL.