I have trouble thinking they're worried about money, and Middleton, at least from all reports, is the kind of owner whose ego is tied to his team winning (i.e., he's more interested in the consumption value of ownership than the investment value).
I do think MacPhail and Klentak like having the financial resources to make decisions without considering money (up to salary cap issues, though I think they have no problem paying penalties if it doesn't constrain future decisionmaking). I don't think they've had their people in place long enough to feel comfortable rolling the dice quite yet. I also think they are all in on the rebuild, and simply don't want to block young players by putting themselves in a "Howard" situation again (it's not just the money, it's the unpleasantness when you bench a high priced veteran you just signed to play a rookie). MacPhail was pretty committed to the youth movement in Baltimore.
I don't see a lot of opportunities to blow the bank in LA this year, they weren't in a situation to pull a Padres, to do so you'd have to have the people in place and the groundwork done two years in advance. Other than blowing out their cap, there was little talent left and they got a good chunk of it.
Is there anyone in the 23+ international market that fits their needs - that's the litmus test, because that's the best value out there (compared to 30+ year old FAs on the market). Trading for contracts is possible, but something like Kemp was too long for what they wanted (3 more years?). I don't think they want an over 30 OF who has a contract past 2018. Boston got really lucky to find a taker for bad contracts, but you can't count on that going forward.
One problem is simply that there is going to be so much talent at Lehigh, half will flop, but which half? If these prospects were in Clearwater, spending money on FAs would be easier to justify, but right now it's really awkward. Which is why I think big moves will wait until next winter, when they have a much better idea of the future of the prospects in the system.