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I always play as an expansion team. I used to build slowly and methodically through the draft, however I now focus on getting my team competitive by year three.
The expansion draft: The game has gotten much better at AI roster decisions. Gone are the days a prospect like Anthony Rizzo is available. Early rounds I try to find reasonable value to fill positional needs. Don't be afraid to take a bad contract or two if their popularity rating is high. This will help put bums in the seats. I also try to grab middle relievers with good stuff and stamina ratings. These guys can start....usually only for a year or two but it can get you decent results in the short term. Later rounds I take a bunch of flyers on older prospects who my scout or ratings say still have a chance.....I have drafted a Cy Young winner and a HOF closer in the same expansion draft.
Minor leagues: Don't fill Rookie or Short A until after the draft. I manually fill my upper minors (I manage my minors lineups and depth charts) with free agent signings. I treat these signings as lottery tickets and try to have a reason/upside for signing each player. This can be tedious as you comb through the pool of players but I usually get rewarded with a couple of gems (best was a five time MVP...I traded him before he accomplished this though!).
International: As much as your owner allows, you can go hog wild with international amateur signings....they beat the hell out of what your scout will go and find throughout the year. Also, signing any of the older FA's who enter the league each year is a great way to up your talent level....no compensation pick and your budget should allow you to easily outbid the established franchises.
Waiver wire: Scour it every day...same with Rule 5 and cut day coming out of spring training. I usually hold two or three roster spots open for cut day...there is always value with the out of options guys.
In short, I say be bold and take chances!...you will not regret it....unless you screw it up
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