I literally found the worst D-1 team I could find when I went to D-1 for the first time. Portland, D-1 Naismith. Took a couple seasons, but turned them around if you look through the seasons there. You can site mail me if you have specific questions. Unless a player is entirely useless, or a REALLY low rated freshman/sophomore, don't cut him. Overall I would give 2 main pieces of advice.
1. Even though you have a LOT more money for recruiting all of a sudden, try to stay within 500 miles or go International. Take guys with flaws that are nearby, and make them work in your system. I chose for example to take guys with bad defensive ratings, but changed my system to a zone. That way I could get guys that could shoot and be fast, but that no team higher than a C prestige would bother with because their defense would be rated like 40. Also, there's a decent amount of low "rated" players in the 520-580 range that will have 5-6 high potential ratings. I had one guy who was like the 85th rated center end up leaving for the NBA after his Jr year after RSing him his first season he ended up over 800. If you end up chasing guys across the country, they'll be easily poached, so stay local, and take guys with an obvious flaw. IE, a guy who is 200 miles away and is rated 80's across the board with a 30 in defense, is much better than a guy who is 60's across the board and 1500 miles away.
2. Make sure you schedule enough tough OOC games. After the first 2 seasons or so, you'll have enough of your own recruited players that you'll do well in a low D-1 conference(they don't generally have many humans that stay for 5+ seasons without moving on). I made the mistake of scheduling too weakly, and it cost me an NCAA tournament berth one season and almost in a 2nd. Even if you know it's a slaughter, take a game against an ACC team in the road for the RPI boost.