FadeIn/FadeOut GUI Menu and Text

This is what I need in sequential order:

  1. First a GUI Text fades in and after a couple seconds fades out.

  2. After the GUI Text fades out delay the next action for a few seconds.

  3. A GUI image fades in. After the image fades in delay the final action for a couple seconds.

  4. The GUI Menu (consisted of Buttons) fades in and is able to be clicked once the fade process is complete.

I'm not exactly sure how to go about doing this. The part that mostly confuses me is the fading part. I've tried looking at other scripts and examples, but none of them seem to be working.

This works perfectly for fading GUIText and GUITexture objects. For OnGUI functions, however, you'd have to handle that quite differently.