In an odd way your lucky though. You're replacing a D.IV team so you are actually starting a division higher than most new comers which means higher TV contract and more income. On the flip side, you're up against tougher opponents and you'll be hard pressed to compete. You'll likely demote but in the mean time I would use this time to learn as much as you can and use the extra income to expand your arena and prepare for next season in D.V.
We had a manager in the same situation last season. Asian Invasion the manager of Closet Men is now in V.107 and ironically is 9-0 right now. He can probably tell you more about what to expect. I recommend contacting him.
Welcome to BB and best of luck to you! Feel free to post any questions and we'll offer any help we can during your learning curve.