http://imgur.com/a/UbEhv
As you can see, the thing is a piece of crap, but I've been wanting to get into doing projects, and I figured this was as good of a jumping off point as any.
What I'm thinking I want to do with it is replace the crappy pickup with a single coil sized p90 or hum bucker, replace the neck all together (which would take care of the nut, crappy/missing tuners, and bent frets in one swoop), and switching out the bridge (which is basically falling apart) with a PRS-style stop tail bridge. So basically keeping the body and that's about it.
The biggest set back for me is that I have no clue where to start or what to do, so here I am, asking for guidance from the masters

Here are some questions that I've been thinking about also:
Should I go for something like a tele neck, rather than searching for another mini guitar's neck? (I know that it might look a little ridiculous with that long of a neck on such a small body, but I'm wondering if it will make it more playable.)
How can i add a tone knob to this guy, or would that be impossible with how small the electronics hole is?
Any and all advice is appreciated, and I do know that you can only polish a piece of crap so much, but i mostly want to work on this guitar to give me some experience with doing this kind of thing.
I'll also keep the imgur updated with pics as they come. And I'll also post measurements of the guitar once I find some time.
Here we go...