1st You shouldn't open up a thread with the exact same question that you posted in a different one.
but to answer your question, this is what I usually do now of days.
1...Take the m2 from the game that you want your character to look like...
2...Take an m2 of an existing race...(Note: Your model will use this races animations unless changed)
3...Import the existing race into blender, with m2mod addon.
4...Import the model you want it to look like...
5...Start reassigning the bones and reshape the clothing and hair geosets.
6...Export the Model you just edited.
7...Post how it comes out, would love to see your first major edit!
