Great thread. I'm on 2015/16 with FC Halifax in League 1 from Blue Square North. Managed to get a new youth striker at the end of the first season who is ripping it up! Scored 32 in his first full season then 35 in the next. Got about 90 from 130 games. The advice about arranging big friendlies is great, even from the end of the first season Rangers and Celtic both accepted friendlies which completely sold out. Got 3 promotions out of 4 seasons (first season in Blue Square Premier I came second to Wrexham, who got nearly 100 points, and lost the play-off final). Luckily I've got to at least the 3rd round in the FA Cup every season, and had a few away draws at big clubs (Wolves, Southampton and Blackburn) - that brings in loads of cash, especially if it goes on TV. I was a bit miffed to find out that you don't get any prize money for winning the BSP, but from L2 you start getting TV money (about £300k for L2 and £400k for L1 if i remember correctly) which is great as my attendance money has stalled since BSP.
I usually try and sell one big player each season to keep my head above water. Ideally CB, as there are a lot of good free CBs on the market, otherwise CM. I tend to find that good wide players (either full backs or wingers) are harder to come by, but that might just be me reading too much into it. I've got 7 strikers on my books now who are all rated 4* + for potential, but I've found it a struggle to shift some of these on (I can't bear to part with my home grown sharpshooter!), not sure if it's tougher to sell strikers....
The jump in quality for L1 has been noticeable, most season I just tinkered with the team and after a few games they hit their stride, but I'm having to do a more radical overhaul now as the bulk of the players were around 2*/2.5* at the start of the season. I tend to buy mostly Celtic players (Wales, Ireland and Scotland) - there are loads of really good players I've bought from Scotland, but I picked up 3 regens from Wales for a combined total of about £5k (2 players from TNS if I remember) that all have Premier League potential. The sold one of them, a midfield playmaker with 25 assists in his first season, to Leeds for £575k behind my back! A good idea is to search for players near the end of December whose contracts are expiring in June - make sure you have them scouted in time to assess them before signing, as in June it's an absolute bun fight for the best players being released by PL teams. For other UK nations you can sign players on a pre-contract in Jan, but not in England it seems (not sure why).
One problem that I have now though, is that I'm struggling to get a decent feeder team to send my younger lads out to. I had Corby, who are BSN, but my players refuse to go there now (it was great when I was BSP and to a lesser extent L2, as I loaned 4 players for the full season and they all came back much improved). I cancelled that link and tried a few others, they let me choose the team twice (I tried Llanelli and a team from Scottish 3rd, but they both rejected it) and when that didn't work they could only recommend one more....Corby! I imagine I'll just have to wait and get established in the Championship, but in the meantime the development of my younger players is stalled, as my facilities are poor.
In terms of tactics I've always gone 4-4-2, high tempo, quite a bit of creative freedom and slightly deep defensive line. I like to have one ball winning central midfielder and one advanced/deep playmaker, and a mix of strikers is good too. I usually go with one target man and then either a poacher or advanced forward. A good idea is to try and get one full back trained to play the other side, I've got my right back to orange proficiency at left back. This way you might be able to save money with one less reserve full back.
Sorry for the long post, but I've got a lot invested in this team and wanted to share in!!!!