After taking over a new team, one of the few benefits of session 2 is that you have a full scouting budget and simmy has already unlocked some players for you. I almost always did FSS on every single state and intl's. This way, you cast the widest net possible.
In session 2, look for players who can be serviceable four year guys. You are going to suck next season and there is nothing you can do about it except lean into it. Recruit some high potential guys (even some D2 guys with a lot of greens and blues) and let them start and get max minutes their freshman year to speed up their development, with a plan to recruit more talented guys in future recruiting classes. In an ideal world, in four years, you have a sophomore or junior player starting and then a senior backing them up and the senior will be a high IQ guy who has maxed out his potentials.
In your situation, spend a lot of time looking for transfers with 1 year remaining. These players will help make you marginally more competitive than walk-ons will, but still give you full scouting/recruiting money for next season. I just finished my first year at St. Joe's in a similar situation to what you face at Cincy. I found this guy (https://www.whatifsports.com/hd/PlayerProfile/Ratings.aspx?tid=14014&pid=3832423) as a D2 transfer with 1 year remaining. He was a nice player for me and because he was gone after one year, I had full recruiting resources for a good class the next year.