I am a bootstrapper and Python programmer so have seen such kind of issues. Let me tell you something that when you were a Project Manager you were using someone else resources rather than your own. So your success in an MNC is not much relevant when you are at a Startup.

The issues you have mentioned I have seen this.Php/WordPress programmers you are looking for won’t be able to accomplish complex projects easily because usually, they require good backend programming and general logical ability. It will be very hard for you to find good quality programmers who will be willing to work for cheap for you.

Since the projects taken are from freelancer, odesk or elance etc most of the clients you will most likely to get will not be willing to pay good rates based on which you can hire better programmers.