Complete steps in performing a Multiple Linear Regression

#1
I'm trying to create a multiple linear regression model to find out the true effect of each independent variable to my dependent variable. I noticed that some of the factors that I chose as my independent variable may have a relationship to each other. Factors such as income and wealth is most likely related to each other in some way so it may affect the accuracy of the model.

I'm having a difficult time finding out all the checks or tests I need to perform to actually say that the model I created for multiple linear regression is a good one. In class, all that was explained to us is that R-squared is large, then it is a good fit. But there are many things that make a model good/bad.

There are metrics such as R-squared adjusted, Partial correlation, semi-partial correlation, covariance, and etc. That I have encountered, but there is not really a step-by-step process into creating a good model that I have really came across.