Find a halfway decent operator who value there pilots and offer your services. Explain that you have been out of the system for a while and exchange some training for return of service. Whatever you do - do not pay for an endorsement or for training to pass your I/R renewal. Instead, offer return of service, which is probably a whole lot more valuable in this pilot's market.
Also, don't sell yourself short regarding pay and conditions. The industry has changed a lot in recent years and in GA an experienced pilot can earn much better than a 'livable' wage and enjoy reasonable conditions and time off to boot. If an operator won't be reasonable then walk away before you start and find someone who will pay you properly - there are plenty out there who will.
I suggest that you stay right away from instructing (unless that is what you really want to do - in which case welcome aboard! The industry needs career instructors). And get some experience and enjoy doing the sort of flying that interests you. With your instructing back ground, you will be perused vigorously by most companies to get involved in 'check and training'. When this comes take the chance, because you won't look back.
Work out what sort of flying you want to do and go for it. Be careful not to set your sights too low. It's a pilot's market now with lots of turn over in most sectors. Gone are the days that you need to be an astronaut to fly a Chieftain or a King Air.
Suggestions: For IFR charter try
Corporate Air in Canberra....always advertising for pilots and those I've spoken to seem happy and progress quickly. If you don't mind being away from home, try survey flying -
Fugro springs to mind. I wouldn't recommend geo flying (too low and scary) but photo survey can take you to some interesting places and rapidly build your log book. They employ pilots from all over the place, good equipment and good pay.
If IFR and all that goes with it is not your cup of tea, then consider getting a float endorsement. Once you get a foot in that industry then you will have a job for life - and a good job too. The aeroplanes are usually pretty slick, work environment is great and the passengers are generally in a good frame - of - mind. What more could you want? If you want to fly a C208, why not on amphibs? They are becoming quite common here now! Once you've got some float time you could venture overseas to fly the
float twotters seasonally. That would be a great semi-retirement gig!
The
AFAP web site is a good place to start looking.
Go for it mate - good luck!
Pithblot.