Experienced on the rental side, and not too interested in going that route right now, but rather would like to find a team on the flipping side of things.  

I arrived to this idea:  Apply for a home loan through a bank for the purchase of the house, and take out a business loan for the renovations.Would this be the best route to take for a newbie with no personal connections?

In which case, get a private lender to finance you and after a year re-finance from bank.If you understand what I am trying to tell, and like to pursue this route, keep in mind there are lot of moving parts in this strategy.  

@Rodney Buchanan   The best route to go would probably be @Nathan Richmond route with an FHA mortgage.

Account Closed  here is a great route to go......

While most of my properties are in the Olympia area I still have one in Puyallup and get up that way pretty regularly.

When you start doing that on a regular basis (recommended every 30 days), your scores will start rising.Then, you can truly make good real estate deals--from a position of credit strength--and save yourself a lot of money you would have paid out because of your poor credit rating.

With this route i could recoup all my investment in 5 years. 

@Mauricio Marroquin Exactly as others have said in that the best route to go would be to refinance with a conventional mortgage. 

I am still deciding what is the most cost effective route but I feel its hard to beat a chromebook for the money.