Also it’s very helpful to have a friend that can play the guitar to help you with mic placement. Doing it by yourself becomes mostly a matter of trial and error but if you have someone that can play while you focus on moving the mic around, it gets much easier. Since you don’t have a booth that separates the performer from a sound booth, good studio quality closed back (sound isolating) headphones are a must too. Good headphones are one of the best investments you can make in a home studio and often the most overlooked item.
One Ring to rule them all, One Ring to find them, One Ring to bring them all, and in the darkness bind them.