I believe that the cheap single shot shellholder type action you are describing is called Hagleberg or Hakleberg or something like that. They run around $2500ish if my memory is correct.
Don't bother with it. For an extra $1000-1500, you can get the single shot repeater Steyr HS50, which is an excellent firearm for the money, and far better built. If you are serious about it, save you nickels and dimes and get the HS50, and budget a minimum of $5.00 per shot. That said most times I take it to the range, I don't usually put more then 20-30 shots through it, thats a great day for me. (On the flip side, I have fired over 100 in a day, and yes, it was as good as it seemed.