Question regarding ranking a low competition keyword.

What would be your strategy to rank low competition keyword that has 14 keyword difficulty on keyword reveler? There is 1 website ranking for that keyword. That website has 300 backlinks from 30 referring sites. All of the backlinks are do follow. Most of them are irrelevant to the content presented on the site. Few catalogs, few forum posts, few posts from sites that looks like pbns, but they seem really low quality, no web 2.0. I think about making few web 2.0s, posting some relevant blog comments and forum posts, adding my site to high quality catalogs and creating profiles on high authority forums and sites not necessarily related to the niche. Do you recommend anything else to do?

I would check though your competitors are using PBN's or not. This makes a huge difference. Btw I'm not a fan of difficulty values because they rely on insufficient data.

It was here a thread with buying an old domain and then Try with 301 redirect. I am not sure if it still works..you can search for it and give it a try

How did you know that site only has 300 backlinks? If ahref/majestic tells you 300, then maybe there are 600 more that are hidden.

But anyway, dont bother too much about that 1 competitor.
There are money to be made even if you rank 2nd.
You may even make more than rank 1 if your site is better than him.
If page one looks do-able, just go for it mate

Get quality backlinks and make your home page an authority.
With that you can easily outrank anyone.

Get Backlinks on relevant niche sites..and also focusing on authority and traffic of the sites..Focusing much on keyword relevant content

Yea, the thing is that I'd be happy with second place on that keyword because it would still make me money, but the problem is that this is the first time that I will rank a website, so I am a little afraid. I know for sure that I will make web 2.0s and post relevant blog comments and forum posts. What should I add to the mix? And what should be my main focus regarding building backlinks? I'll try to reach to niche related sites and guest post on them.