1. Try to get into some other residency program.
2. Google search primary care, urgent care, or family practice offices in underserved states. Avoid big medical corporations. Often times these smaller offices have more work than the current physicians can handle. They just need people with medical licenses who can supervise N.P.'s and P.A.'s, or they need another M.D. to share overhead expenses. You can negotiate either a salary, a percentage of your total revenue, or a combination of both. Expect compensation to be at a minimum $120k/year. Within a year you could easily hit $150-200k if you do well on the % plan.
Expect a lot of rejections just because you are not residency trained. There are practices that do not require it. However, you will learn the bitter taste of systematic discrimination in this profession for those who do not finish training.
3. You were canned for an illegitimate purpose like a lack of fit, personality conflict, arguing with someone you shoud not have, etc. Do not follow this route if you truly lacked clinical competency.
4. Risks: getting sued for malpractice could really impair getting a residency spot; facing the disdain of some PD's who think that practicing medicine without board certification is irresponsible behavior or some MD's who look down on you for not finishing training (you will get a sense of this when you meet everyone at the interview, avoid these places if you can); becoming accustomed to being treated like a real MD including having support staff take care of you, thus allowing you to spend all day seeing patients (there may be an adjustment problem when you head back to training); homesickness.
5. Benefits: lots of clinical experience, lots of business experience, relatively good pay.
6. Remember to have confidence in yourself. You are a licensed physician and the law presumes that you can practice medicine independently with reasonable care. Almost any M.D. can practice general medicine, which is now called Family Medicine, Internal Medicine, or Primary Care. The vast majority of this work occurs in an office setting and is the almost the same as it was a generation ago, no matter what it is now called. Board Certification makes it ridiculously easy to find a job or get hospital privileges, but it is not required to practice medicine.
7. If you can accept not finishing residency, you could open up your own practice. Better yet, find a few others to open up an office. The older physicians could front the money while you pay them back with the revenue generated from your account receivables. Initially, you will be treating primarily medicaid and medicare. These patients hardly ever ask where you went to medical school or whether you finished residency training. Within a month or two, you will be seeing 20-30 patients a day. You will need to hire someone experienced in billing who will handle all the paper work, even if this means you triage the patients yourself initially. Also malpractice is cheap, because you are engaging in low risk medicine.