This gets asked all the time. PLUS, now that you asked, you will have all the MLM'rs and direct sales people trying to sign you up to get rich quick.
Remember the old saying.... If it sounds too good to be true, it usually is!! PLUS, is someone asks you for money, RUN
Working from home is WORK. You cannot work for a company AND be with your children. If it were that easy, no one would work outside the home!!
Most people who do work from home are required to have child care, dedicated office space, phone/internet lines and sometimes the hours are flexible, depending on what you are doing.
I do work from home running our company. There is NO way I could do my job with a child under foot. One mistake could mean thousands of dollars lost for my family. I run all the financials, schedule trucking companies for deliveries, etc. I have to be spot on 100% when I am in my office working.
Most companies will not hire telecommuters because one first has to prove that they do have a strong work ethic, self disciplined, etc. Most people who do work from home have already proven themselves with their company.
For someone like yourself.... think outside the box. Childcare is always an option because you can watch your children and your children have playmates.
Sell things on Ebay, Etsy, Craigslist. My daughter is having a fantastic time right now purchasing specific items for her dorm room this fall off Etsy. She LOVES that site.
You say your youngest will be in school in the fall? Substitute teach. Schools need substitute teachers, especially bilingual and special ed.
When my daughter was in K I was asked to apply for substituting and I did. I do have a college degree which is required for subbing. Anyway, I subbed while she was in school and I still sub. It was extra money, roughly $500 a month play money for me to use for my hair salon, housekeeper, etc.
Even though I run my company from home, I still substitute 1 or 2 days a week. Most of my jobs are pre arranged because I have been there so long. Subbing allows me to be with the children that I LOVE plus is an extra income stream that I could fall back on and step it up to full time work if needed.
Good luck