This may be oversimplifying a bit. But:
Top priority goes to items that deal with your safety and the preservation of the value of the property. So: Broken doors. Broken windows. Leaking roof. Non-functional HVAC. Mold. Water seeping into the basement. New wiring, as needed.
Then focus on things that will improve the quality of your life. A lot of people wait too long to do these things, but you bought the house to live in. Maybe not all at once, but room by room. The kitchen, if you can afford it. Certainly the master bathroom. Maybe the other bathrooms, if your budget allows.
Then take your choice between upgrades--finishing the basement, for instance--or additional internal enhancements. But by the time you get to this stage, your home ought to be safe and sound, fully liveable, and even enjoyable.
Work out a budget. Determine what items fit into that first category, dealing with your safety and security. That's got to be your top priority, and done as soon as possible. Even there, though, you may have to prioritize, based on your budget. But have a definite, clear plan in place to take you through all three stages.
Hope that helps.