Ethan, I took over D- Drake in Smith four seasons ago. This season, with my initial recruiting class being seniors and no AI players left, I made the tournament with the team for the first time. Prestige has now risen to C+, so I think you can reasonably expect a similar initial four years.
I second the earlier advice someone gave you about cutting dead weight. I only had two or three open schollies in my first year, but I immediately cut several awful players to turn the roster over more quickly. This means you have to be thrifty in recruiting, but with D- prestige there won't be much competition for the guys you will be getting. So I was able to sign several guys for under $8K to make up for the fact that I had lots of open spots and not a ton of cash.
In terms of recruiting, be aware that even guys ranked outside the top hundred at their positions will initially be reluctant to talk with you. Using FSS, identify recruits outside of the top 80 or top 100 and contact them, then wait for them to drop down when other D1 schools aren't after them. Seconding Kyle's advice, focus mostly on what they'll be like as seniors, and play them heavy minutes right away. Make as many promises as you need to sign that initial class, because most of the rest of your roster will be garbage; getting a good initial class is, I think, the most important thing you can do in terms of showing up in the dance four years later and boosting prestige.
Any other questions, sitemail me or post here and I'll do my best to help.