Salary Cap Start-up Auction this week - Strategy?

[HailState89]

Like title says, having my first salary Cap Start-up Auction this week and really confused about what the strategy is besides pick the best players at the cheapest price.

We start with $200 for the auction draft.
-Players bought at auction are signed to a three year contract based on their auction price with their cost increasing each year by either $1 ($1-9 players), $2 ($10-29), or $3 ($30+) a year.
-After three years a player can be signed to a new three year contract with their base price being their market value from a site.
-If you drop a player whose salary is $30+ before the three years, you have to take a $3 salary hit the next tear.
- Rookie draft next year - $0 contracts for three years.


Whats the best strategy for this type of league? Any advice? Old/young players? mix?
Do you rank players based on dynasty rankings or normal rankings? Trying to make a "cheat sheet" just for reference.