3 board members of a non-profit 501(C)(3) want to start a for profit business. Can we buy existing materials from the non-profit?

Originally we wanted to sell items which we engineered under the non-profit business to raise funds for the non-profits. We started designing these items and have used non-profit money to buy materials and services including a domain name. We came to realize that this is a tax nightmare and we no longer want to donate our time to the non-profit but instead want to do this as a for profit business. Can our for profit business purchase the domain name and existing items from the non-profit at cost? All the members of the non-profit are okay with us doing this. Do we need to consult a lawyer or is this a fairly common practice. No products have been sold under either company at this point.