So, I am done rebuilding the engine in my 85'. Upper half of the motor (heads, gaskets, lifters, cam) in addition to a new clutch. What are the necessary steps for the first start? This is my first rebuild so I just need some guidance.

If you installed a regular, flat tappet cam, you'll want to start it and keep the idle speed above 2000 rpm for at least 30 minutes to break the cam/lifters in. In order to do that, you have to do all you can to make sure the engine will run period. Be certain the plug wires are on correctly, and all of the electrical stuff is connected properly. Be sure there is fuel, and check fuel pressure before cranking. Have your coolant ready to top off the radiator as it warms up. Have someone to help look for leaks.
Ain't nothing worse than firing off a fresh engine and having issues that keep it from running at fast idle for the cam break-in. If the cam is not broken in properly, it WILL wear the cam lobes and lifters very quickly.....then you'll be doing all of this crap again....

If you installed a roller cam, then just fire that puppy off and check for leaks.

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Joel Adams  
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"Money can't buy happiness -- but somehow it's more comforting to cry in a CORVETTE than in a Kia"

Treat it like a complete rebuild.  Use break-in oil.  Do not use standard oil or synthetic. 

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If it isn't broke, I haven't fixed it yet....