Portraits of my kids (Lighting Help!)

I am beginning to fool around with the idea of doing studio portraits of my kids. Studio portraits have been the least interesting part of photography for me because if my fear of the expense.

I have an unfinished basement with very tight white plastic cover the insulation. (This might work for a backdrop, maybe not. A few days ago I purchased 2 500W work lamps at Home Depot for use with a small light box I made. I was considering use these but my experience with the light box was that mixing these lamps with my sunpak flash on my Rebel XT created white balance issues.

To start with I was going to cover the ceiling with a white sheet so that the I can use a bounce flash. I would also a hang a sheet on the wall as a background.

Will any of this work? I have pondered returning the 2 work lamps and getting my $40 back and buying a starter stobe flash on adorama.

http://www.adorama.com​/FPBF.html
http://www.adorama.com​/FP320.html

Newbie in need of help!

I found these monolight kits. I sorted by price because I don't have the money to invest in something more expensive. I am ok with the cheaper stuff right now, it will only be for my own kids and maybe my friends. Will one of these work under $130?

I'd go for something like this at the minimum: http://www.bhphotovide​o.com …150_Platinum_15​0_150.html

or preferably this (you get the kit for the same price as just the Genesis light): http://www.calumetphot​o.com/item/CF0502K/

The Genesis lights are particularly well-regarded around here.