Baz,
I think you've got it.....well, almost.
If you can find a group of like minded bods save up and buy and aeroplane. (just a cheap one) and then select one of your number to get a PPL followed by a FI Rating. The aircraft will be a 'club' aircraft and the new FI can give instruction to club members without recompense. You will all be equal members of the club and have an equal share in the aircraft. the cost of the FI rating needs to be funded by cash but can be 'secured' against that members share. i.e. he pays for it when the aircraft is sold.
If you can find a friendly FI who needs hours then you may be able to do a discounted rate at this time but the principle saving will be in the hire charges levied by a commercial FTO. This route would allow you to get some debt for the purchase of the A/c which will depreciate fairly slowly. In addition to instruction you will pay direct costs. Fuel, maintenance, insurance, hangar/parking, landing, CofA, Finance, depreciation etc. etc.
It will work out cheaper and you will end up wiser. But this will involve risk and a committment - are you sure you've got what it takes? The lottery idea was pants!