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Some minor points that you may already be carrying out:
a) make sure your coaches are only training the players in 1 area only and not training all categories. Specialisation is the way to go;
b) scout the eastern European countries. There's normally a wealth of talent there that is relatively cheap although sometimes work permits are required (for places like Ukraine). South America is good as well but the players are normally unable to obtain work permits. One thing I do is to make sure that my filter has "EU National" checked so that it identifies the players which have dual-nationality easily;
c) since the target is to play in the Premier League, your transfer targets should have Premier League level quality or potential, if possible;
d) making it back to the PL immediately is the most important thing probably and I wouldn't be scared to loan some PL players to achieve that goal. You know the massive difference in financial rewards by now so it's key to get back up there. See if you can structure loan deals that allow you to purchase the player at some point.
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