One bedroom Reno Help Required

Go to bunnings and look at their flat pack kitchens
And a new rangehood
Try and avoid to much plumbing as the plumber may need to rip the tiles and plaster board off the wall now if you can avoid this it will decrease the cost of a new kitchen. Once you know the measurements of the kitchen you can work out plumbing requirements for water and maybe gas.
Then get quote from plumbers on work required.

Plaster board seems a bit drastic. Patch up holes if any or cracks with plaster filler and no gaps or b.uilders bog
Repaint
Fix ceiling where old fan is . May have a water leak in roof that has caused damage in picture
May need roof repaired .
White tiles on wall look ok to me

May need to replace lino on kitchen floor . Either Lino or ceramic tiles.
Timing depends on you.
If you do the work yourself it could take up  to 3 months to 6 months

If you hire tradies it will take less time. Get quotes if using tradies. THen you will know what it will cost.

P.S Stove / Oven thing looks dated. New stove might be needed Check pricing at Bunnings , good guys, Ect

Great bones to work with !!  I agree re kicthen , check out bunnings and also budget kitchen suppliers.  Some places have a standard kitchen that may work for you.  In bunning you can get kitchen guides with grid and sized cupbd to layout.. dead easy to use.
Hunt around at Joyce and Harveys for kitchen package bargains.  We got an oven, ceramic cook top, range all in stainless steel, plus a bosch stainless stl dishwaher all for $1500 !!!  the dishwasher was the old model and was $200 under cost price.  cheap and looks great in a IP.
wash the walls well.  Use a quality brand 3 in 1 undercoat sealer prep coat.  Spend the extra $20 on a good brand… you get less splatter and a better new surface to start with.  If you want to u can use this on the celing too.  It may be worth getting 2 smaller tins and having one tinted to your wall colour.. saves time later as you only had to add one top coat to the walls.  a good celing paint is worth as welll nothing worse than needed to recoat 2 times to get coverage.
consider panelled splashbacks in the kicthen as they are easy to fit.
love the idea of a brekkie bar.. so usesful in small flats.
make sure u take lots of before and after pics so you can enjoy your hard work later )  and once you select a colour scheme, use it again and again so any left over paint goes to teh next job – store paint up off the floor and never on concrete  !!!
good luck.. love a reno job ))

The situation in the bathroom looks like there is some serious mould going on with the walls.  You might require some new plaster in there.  Either way, definitely get a fan installed.  Preferably one that automatically turns on when the light is switched on, but also has the option to turn it on by itself (ie for the daytime when lights don't get turned on).  I'm a big fan of those IXL Tastic models (it's a 3 in 1 with fan, light and heat), though some might consider this to be overkill.  I don't like the older models as they seem to gather dust and filth, and I am too lazy to clean hehehe.  The IXL tastic seems to remain cleaner.

Check the other parts of the unit for power points (bathroom at basin, bedroom at bed for bedside lamp and electric blanket etc).  Make any power points provided double GPOs.
The staining on the carpet outside the bathroom indicates that the bathroom floor may not be well graded to the floor drain, so that water from the shower pools on the floor and flows out onto the bedroom floor.
Looking at the outside photo, the eaves soffit looks like metal deck so it's probably a roof with low pitch. The exhaust fan above the oven is therefore probably vented to atmosphere, and the water damage around the fan may be because the flashing is not totally effective.  If you're putting in a range hood the new flashing will solve that issue.
The mould on the bathroom wall may be caused by a leak in the shower plumbing (commonly in the breeching piece). Have a plumber check this before you do any retiling/ painting in the bathroom.
Put in new plasterboard cornices, it's not too hard if you're a bit handy.
I've painted walls and ceilings in the same colour, off white.  The ceiling colour always looks different to the walls and it saves a bit of time when painting.
Change the door handles on internal doors if possible. 
Maybe reglaze the internal window to the bathroom, to provide a frosted-type glass.
Nuke the weeds with Roundup and put in a few feature plants outside.

Would Asbestos be an issue with an older unit like this?

The unit actually looks pretty solid and decent condition from outside.
In addition to what others have suggested, two things I would do:
1. Repaint the outside wall with a more humble color, The bright red is a bit too scary for most people
2. Minor plumbing to make the kitchen tab coming out of the bench instead of the wall.  

I would love to see pics of it when it's done!!

Is it strata titled?

If so, then you will likely need approval for any internal changes (just a letter to the Strata Managers with your date range may suffice).  Also, if it's strata, then you won't be able to do anything with the external appearance (that will be 'common property'.  But, some of these possible roofing and plumbing issues that have been mentioned through the thread may fall under Owners Corp.  Real Estate should be able to give you details of the Strata Managers and you can ask them directly for a copy of any special by-laws!

Best of luck!   

I am not sure about the pricing, but make sure that you agree on a reasonable quote with the contractor before reno begins. Certain contractors make outrageously low bids just to get the order and then claim the estimates were wrong and charge twice as much as the original bid. I don't know whether it's different where you are located but better be on your guard.