Home job:

If its a light weight steel- Chemical strip not sand. Sanding takes off metal and thus creates weak spots.
wire brush to get any unsean rust out of the pores of the metal.

If thicker steel- sand but still use a wire brush to clean the pores.

Nest- ETCHING PRIMER, not regular primer. Alloy steels dont respond to regular primers as well.

Sand and prime again, then sand again.

Very light 1st coat, sand and 2nd coat, sand and 3rd coat. (use 320-400 grit for this, I like 400 if the coats are even)

If all is looking good then you may not need to do a 4th coat.

Let paint sit for at least 3 days, more for some paints. (I like epoxy paints ad they take a week but you can paint rims and brakes with it)

As a side note- use rubber gloves and surface prep pads, and red scotchbrite.

if all this sounds like too much powdercoat is the wat to go. home (even done nicely is cheaper just more time)...