This post will be updated with important information during the off-season.
Common "New Owner" Mistakes
1. Understanding the impact of splits for hitting and pitching. There will be more RHB and RHP than LHB and LHP, so keep in mind how important "splits" (R v. L) can be.
2. Keep in mind how "advanced scouting" works. It will be average in your first year ($14M), so the accuracy in which you see player ratings will be impacted. If another owner has an advanced scouting of $20M, he will see with much greater accuracy a player's true current and projected ratings. This is important with free agents and trades.
3. It is almost NEVER beneficial to "release" a player. Typically, "waiving" a player is a much better option. When you "release" a player, you will continue to pay his salary no matter how long the contract is, and another owner can sign him and only pay him the minimum.
4. Understand the importance of setting your budget. It's the first thing you have to do so fire by trial. Please spend time reading the FAQ section, the player's guide, and ASK OTHER OWNERS if you have questions about the budget.
5. Dont' be fooled by the "overall" rating. The best closer in the game can be a 60 overall because a pitcher is "penalized" for having low stamina. A SP can be a 75 because he has a low LHB split, but he can be a great pitcher if he has a very high RHB split. Overall ratings should be taken with a grain of salt in some cases, and it takes a while before you understand what individual ratings are important for different positions.
6. Know how arbitration works. A player will have 2-4 years of player minimum salary (typically 3, depending on when you call them up) and then 3 years of arbitration. If you go to Arb 3, a player may or may not re-sign after the 3rd year. If you go to Arb 2, you have a much better chance of re-signing the player long-term. You can sign before Arb 1 if you want and it will reduce long-term salary commitment, but player might not re-sign and you'd lose years of service.