I started out just like you in IV. I bought some medicore trainees, and started training. I went into the red for a while, but now am in first place in II.2 after 2 seasons. (Having started in Season 2). My trainees are all approaching prominent and I am satisfied. I recomend buying trainees after the draft because there will be a huge surplus. My wages are 53k. I average 100k spectator income and only get 11k merchandising. There is so much parity, if you play your cards right, will can be in II, like me. (although I was incredibly lucky).
Pallu: Yes, I can imagine how little you get paid down there, but if your players around 8k salary, it sounds like it might be the year you promote!