I have read on this board that if I install from WordPress.com that I will not be able to use plug-ins from WordPress.org. TRUE?
True. Their terms are a little more restrictive in order to provide a safe environment for the gigantic number of people who use their free blog services. You won't encounter those restrictions if you are self hosted.
1) install wordpress from ???
2) install wordpress.org plug-in
Here is a great place to get started. This should answer most of the questions you will run into before installing WordPress, and it will also lead you to information about installing themes, plugins, updating, how to make backups, using ftp clients, etc...
What You Most Need to Know About WordPress
Getting Started with WordPress > WordPress for Beginners
 Bluehost hosts a fantastically large number of WordPress installations. I've heard many good things about them. I am neither endorsing them or providing critique, however; as with any hosting service you might choose to consider, read their terms of services and user agreement documentation completely and be sure that their policies fit in with the plans that you have for your site content and use.