Hi there.
I'm in a (kind of) similar boat to you. I returned to Dublin from California nearly 3 years ago with FAA Comm/Inst/ME. There was no conning involved about becoming a CFI, the school was legit but I just didn't budget very well and ran out of money to convert on return. I feel your pain my friend but rest assured that there area many, many others like you and I in the same boat. The bit about your theory exams is a real stinger but I'd bet you would totally sail through them next time.
I have a friend down in Botswana at the moment with FAA Fixed and Rotary tickets, he's been there for a month or 2 and has a possible meeting with a local operator tomorrow. Africa is always a possibility and I'm looking into it myself after I get recurrent etc but even then it's not a certainty by any means.
Have you investigated whether you would have to purchase an official groundschool course again, either full time or distance learning, in order to prepare for the exams, or could you use a cheaper "unofficial" option like that available at dauntless software?
10K is a tasty sum when you can get it but it won't come anywhere near the complete cost of a conversion, particularly when you haven't been flying for a while. Most people are looking at somewhere between 25-30K to do that these days.
My advice would be don't rush into doing a CFI/II course and especially don't do anything that could jeopardise your immigration status because it's truly game over once you're caught.
Countries are very proud of their aviation heritage which is one of the reasons licence conversions are such red taped affairs all over the world. Becoming an instructor is no mean feat and shows dedication, commitment and a great deal of knowledge and skill but getting an FAA CFI really won't be of much use to you anywhere outside North America. If I were you I'd spend the money on getting those theory exams done and dusted leaving you to concentrate on the flying bit in the future. The idea of sourcing some free flying is just a pipe dream, concentrate on some real options.
Believe me, I've looked exhaustively into every single possiblility to fly commercially somewhere in the last few years and there are brick walls at every turn. It's a lot harder to emigrate around the world than it used to be so getting the right to live and work in any country outside Europe will be difficult. Even in Africa they are clamping down on foreigners taking the jobs now.
I'm thinking time is probably on your side a lot more than me so there's no need to rush into anything. It's true money expands your options in proportion to the amount of it you have so spend it wisely.
Myself I save as much as I can and read every aviation book I can get my hands on. I figure if I'm not flying at least I can absorb all that hard won knowledge that some author is sharing with you for the price of a few beers. I've quite a library now and can give you some recommendations if you like.
Whatever you decide to do good luck.
