Homeschooling at that age doesn't necessarily take that much time. We live in NY and the curriculum requirements for 1-6 grade are ridiculous. IMO, the first couple years should just concentrate on learning to read and write and do some math. Science, health, SS, and all, can be done very informally. There's only so much a 5 year old with a limited concept of time (history classes) and abstract thinking (Social studies, government, etc) can handle. My kids are real bright, but even at that age, some things are just beyond them. See what you can do, even if it's only for a few years. It'll help.
John,
Best wishes to you and your daughter. While my children are "homeschooled," it seems like ALL of their friends attend public school !
And among them, I've seen some pretty sharp public-schooled teenagers who have their values, aspirations and dreams pointed in the right direction.
I have to that if you make it a labor of love to be a parent--it is secondary how your children get educated.