I had as same problem . afer lot of R&D i found the problem.
but as long as your configuration are finne mean that aspnet 64 bit and the IIS well then the only problem i saw is the path " web api taking the local directiry path" so that you need to avid it. by like this.. ~../../../api/products/
thank you very much for posting the problem. i leanred alot abt iis and other setting in config file.