I get the structure of the song ready... bass, drums, etc...
guitars tend to go in last. I do sometimes record a quick guitar scratch track for the body it gives. I then go back later, and record the keeper guitar parts.
If it's the acoustic guitars, I can very often record them straight through in one take. Especially the strumming parts. No biggie.... and I often record 2 tracks for panning later.
When it comes to the leads, fills, etc, on either the acoustic or the electric, I will set the NOW marker to a measure or two before the part and then using the space bar to stop and restart playback I will run through the part many times. Two quick spacebar taps stops and restarts the playback. I will experiment and try a number of things until I find something I like. Then I continue that process to learn it and when I think I'm ready for the take..... I turn on the punch in and attempt the take.
Sometimes I end up with a bunch of clips to get one solo. Generally that is more the case when playing something with twin leads. Usually the first lead part is played continuous as one complete clip. Getting the second part to match the exact note phrasing and harmony...well that is a lot of trial and error.
My 2 cents