One thing I think is important in a rebuild without tanking is drafting for ceiling. This is high risk but high reward.
Things to look for in prospect,
1. Unfulfilled talent, a player like AB who was a stud recruit who didn't find niche in college. busts anthony randolph, donte green.
2. Red flag free fall, a player projected high who drops on draft night, the good Sully, Pierce the bad gerald green, Perry jones
3. Size for position, a player who may need alot of development but has above average size for his given position. This is the paces niche George 8'11 reach most SF are 8'7, Hibbert just huge and Stephenson 8'7 reach most SG are under 8'6
After drafting talent the next big thing for a rebuild is just avoiding bad contracts and keeping salary flexibility. The Rockets have used there flexibility to build their current team.