First- shame on you for letting it expire...

Would paying for the checkride be less of a financial strain that regional pay rates? My guess would be yes.

As far as sitting around, you should be able to directly compete with those CFI's during your week off (again, is sitting around the airport on your week off to get flight time less of a strain than moving away from your family?). If you think outside the box, you should be able to gain some non-traditional clients (owners who'll need IPC's, flight reviews, instrument practice, etc), and if you offer a superior product with your real world expertise then your clients will be willing to work with you.

I work a 2 week on, 1 week off schedule, where I could be anywhere in the country for 2 weeks at a time, and I've maintained 2 private clients who own their own aircraft. I'm sure I could increase that if I worked harder on my week off.

Good luck... It won't be easy, but again, it may be the better option than moving away from your family.