Seconding what @Sam_w says. A half-decent builder will advise you on the process anyway. My experience:
If I was being picky I would reverse your order of point 4.... best to try and insert the steel before knocking the wall down, or at least prop it!
PEDANT
@Sam_w started
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Seconding what @Sam_w says. A half-decent builder will advise you on the process anyway.
My experience: