I have not yet actually reached Step Two in my editing process (I think I will start this weekend) but here is what I plan to do:
I got three more books on the French Revolution from the library. I'm going to comb through those, the books I already have, and my notes from class, to familiarize myself with the little details that will (hopefully) make this a solid story.
I'm probably irrationally excited about research. I was even able to find a book we'd gotten an excerpt from in class, and that is definitely going to be fun to read. Hopefully it will all go together smoothly!
I also intend to make up a list of Big Picture editing goals, things that I can look for and try to fix as I read through my manuscript. Things like "more and better worldbuilding" and "making sure all the facts line up with the fiction" and "character motivations." Good stuff like that.
How do you guys begin your edits?