i managed i think 13th in my first season then won the EPL in my 5th season.
first season i used:
GK: Gordon
WBR: Halford/ Edwards
WBL: Harte/ Wallace
CB: Anderson
CB: Higginbotham
CB: McShane (still good in 6th season)
CM: Whitehead
CM: Kavanagh (in January i got Tomas Sivok to replace him)
AMC: Leadbitter
ST: Jones
ST: Chopra (scored 17 goals was my top scorer that season)
now in my 6th season my squad is:
GK: Oscar Ustari/ Rob Stone (regen)
RB: Simpson
LB: Drenthe
CB: Breno
CB: Vidic
DM: Fabregas
DM: Sivok
AML: Cassano
AMR: Nani
ST: Tevez
ST: Bojinov
Recomended players to look at: Dagoberto, Billy Sharp, Ignashevic, Samba, Sivok, Simpson, Breno, Evans (man utd), Hobbs (l'pool).
All worth a look on your game maybe not first season but in first 2-3 seasons. its difficult but possible, usually takes bit of luck too with injurys not only ot your players but if opponents key players are injured it helps

lol.