Those cleaver folks at XDA have created a rather smart guide here or for the lazy folk...just a few apks are needed to get the whole process going then download the rootmyouya.apk from this guide here, again on the XDA site.
After rooting you will need the Xposed Framework here. Sideload it.
Don't forget to reboot after each part of the install process.
You can install the Google Play Store from the Xposed apk.
