I just typed out the below in another thread before I saw this one. You may want to consider a permanent ceiling mount. Ultimately that may be easier than packing it up after using it. Anyhow, here was my response in the other thread.......
Ok, I will give you my 2 cents. I'm an ordinary guy who isn't prone to notice the blackest blacks, whitest whites or subtle color issues. I don't believe I will ever calibrate my projector for colors. I'm satisfied with a clear, sharp picture where colors look like I think they should. I bought my first projector 3 weeks ago, and I'm happy with the choices I made. I have about $900.00 in my setup though. It's not the top of the line, but it did get solid reviews as an entry level unit. I went with an Optoma HD131Xe. I also looked at the Acer H6510BD, Ben Q 1070 and the Viewsonic PJD7820HD. All of these are full HD projectors and I believe are 3D ready. All also have HDMI inputs.
I would recommend a 1080 NATIVE projector. If you want 1080, make sure it is 1080 NATIVE, not just 1080 capable. If you buy a 720 NATIVE that is 1080 capable, understand that you can put a 1080 signal in, but you are only getting 720 projected. I wanted a 1080 NATIVE, 3D capable with dual HDMI ports. The Optoma had all of these. I have a cable box, Wii U, Bluray and DVD player hooked up to it through an HDMI switch. I'm happy with the cable box and the kids LOVE it with the Wii U. The projector and mount were about $800 from Amazon. The projector currently comes with a $50 Amazon account credit.
I went with a 120" motorized screen. The screen goes up and down with the push of a button. I have about $165 delivered in the screen from ebay. I have 4 kids from 7 to 11 and a big dog in the house. I thought about a manual screen, but then thought back to my childhood and the old pull down window shades. I could see the kids or the dog trashing a pull down screen in short order.
As I said, I'm happy. I've got a big TV to watch that looks good to me. Movies are great as well, either DVD's, blurays or streamed. If the kids let loose with a Wii remote, the absolute worst I'm out is a new screen. That's better than a new TV. If they somehow break the projector (ceiling mounted) I'm not a ton either. Kids and big dogs break things, that's part of the reason I went with the pricepoint I did. If you are at all interested, PM me and I will provide you with the specific items and sellers I went with. I sourced everything from different vendors and I am more than happy with all of them.
Installation of the projector and screen took less than an hour total and was very easy.
ETA: The Optoma projector also has 2 built in speakers that work pretty well on their own if you don't already have a separate HT system to hook it into for sound or if you plan on adding a HT system later.