This is my first time doing a league like hardball dynasty, so I just had some things I was looking for advice on from seasoned players.
I inherited the last place franchise, and its last by a long shot. I have little-to-no assets at the ML level, but a few decent looking prospects in High A. I was thinking of kind of starting over with my franchise, and trying to move the one or two players I have at the ML level and turn them into some prospects. That being said, I also have like 60 million in free space, so I was going to spend money signing minor leaguers that look like they have potential. I guess what I'm asking is am I smart to start over, or should I try to somehow compete by signing free agents/making trades?
Thanks in advance for any advice, I've been reading a few threads and most of you seem really helpful and genuine.

No minor leaguer with a future will be a FA. Drop that idea immediately.

I recommend that first year players do not trade.
I recommend that first year players do not dip heavily into FA.

I'd recommend playing with what you have and signing a few cheap FA at the end of free agency. They lower demands as FA continues. And, if you sign them after Game 8 of ST during the 3 PM cycle, they will accept 1 year and NOT losing ratings.

Just don't commit heavily into one direction while you're learning. You'll may to dig out of a hole if you do.

You've got some pitching, not much hitting. Veterans owners will pick you clean of those pitchers. Keep them.

Very first mistake I made my first season, signing younger unwanted free agents to multiple season contracts. There's a reason their teams let 'em go to free agency that young - their original owners know they don't have major league futures.

Definitely don't take player protections to heart. I did that my first couple seasons and it did not end well

Don't worry about having a pile of cash leftover. Spending it for the sake of spending it will buy you long-term trouble. The one area where spending can't cause problems down the road is on International Free Agents. Take that advice above about not trading and not signing expensive Free Agents. Everyone wants to blow up his first franchise and reshape it, but the way to do that is through the draft. After a couple of seasons your first draft picks will be close to contributing in key roles, and by then you should have a deep enough understanding of the ratings and development that you can supplement them with a few trades.