This is Professor Dubois. An important topic just came to mind upon which I must speak, and then I will return the floor to Mr. Brewer.
In the pursuit of model rocketry, you must never, under any circumstances, attempt to produce your own rocket engines or rocket propellants. In addition to the very real risk of being maimed or killed, this is also a quick way to get an unwanted visit from the Bureau of Alcohol, Tobacco, Firearms and Explosives, if not from Homeland Security. That is trouble you definitely do not want, mes amis.
In addition to the safety and legal issues, look at the cost and the difficulties of accomplishing that task, compared to the small cost and convenience of obtaining commercially-made model rocket engines. To begin, the necessary chemicals are almost impossible to obtain these days. You could obtain them illegally, but again there is great risk in that, and the expense would be prohibitive. And think of your time. While you are performing the extremely dangerous experiments required to find out the proper mixtures and construction, you could be enjoying the process of building and painting the rockets themselves and the launching of your creations.
Attempting to construct these engines and propellants is not worth the risk, and I appeal to your better judgment not to try. If you insist on pursuing such activities, then first obtain college degrees in chemistry and chemical engineering and apply for a job with a company that is licensed to do this type of work. Now I have had my say, and I return you to Mr. Brewer.