I have a 200 dollar budget and would like to do the work myself. What should I do to make this look less awful. I do not own a compressor or spray gun, but I could probably rent one. Please be in depth as I am lost as what to do or where to start.
http://imgur.com/a/YTDPB

Don't take this the wrong way but to do the entire truck for $200 and no equipment is a pretty unrealistic goal.

Unless your name is Rick Wrench:

http://www.rickwrench.com/50dollarpaint.html

Don't dismiss this immediately. It seems to actually work, if you are willing to put the effort into it and don't care that your vehicle is painted with a cheap hardware store paint.

yeah your gonna need a whole lot more than $200 mate, a good primer, sanding materials and some body filler will eat up $200 in a flash.
im not real sure whats available over in your neck of the woods, but we have a paint called killrust, its a single stage epoxy enamel ( i think???), i guess that rustoleum would be similiar, its cheap and can paint over fresh(ish) rust with no primer, i have used it on a bike frame and inner fenders and stuff and its pretty good stuff, but takes ages to dry, i think its kero based, but i really wouldnt use it on a whole vehicle.
i would invest in a good epoxy ( i hear the tamco stuff is the bees knees), borrow a compressor and gun, rub the ute back and cover it in the epxoy, it will seal it up and protect it for atleast a yr (epoxy and uv rays dont like each other much apparently) until you can save up some more coin.
krem

Try Maaco if you just want a quick, cheap, paint job.
$200 will barely cover your sandpaper costs.

I think even Maaco will be way more than his budget.

Tamco epoxy could be an option, if reduced significantly and rolled on. It certainly could be wet-sanded afterward, if needed.

I'm telling you...check out that link I sent. It mentions a newer marine paint that can be rolled on -- for an old work truck why not? If we are really going to stick to $200 then this is the ticket.

The link Chris listed looked very interesting for going on the super cheap. I guess the obvious question is why are you painting it? Are you looking to re sell, or just make it nicer for yourself? If you plan on keeping it, I would suggest saving some more money ($200 just isn't a realistic dollar amount) and start reading these forums. If you think this is the one and only time you will ever paint a car, as was suggested, check out Maaco.

I have a friend that rolled out a beater car. Let it dry a couple months. Then cut and buffed it. Looked dang good. Did add a catalyst to paint. Think that's why it didn't go flat later.

Thanks for all the great advice, I think ill just take it to maaco one day, but for now what should I do about the rusty roof? Should/can I just sand it and spray it with brown primer enamel spraypaint and then spray an enamel clear rattle can over that?