If your objection is time, expense and compliance issues, it's not clear to me this alternative is less expensive or time consuming, and likely is even dicier on compliance.

I've been searching for and working towards purchasing my first investment property for years and years, every time I found one that fit, other local investors with more experience, more readily available funds or alternative financing, and more connections were already writing offers while I was touring the property.

If there's an alternative method that has worked for you, please share. 

As an alternative solution, we've placed QR codes in the units which takes people to a form they need to fill out with all the information they want to collect.

Alternative way could be purchasing this property with normal conventional rehab loan, which is a standard 30 year fixed loan + rehab funds being funded up to 95% LTV.

Your other alternative is partnering with someone who has the W-2 / who is loanable and they can make up your lack of W-2 / income.

Have you thought about investing in gas and oil with about a 9 to 10 % roi.. its a 1031 exchange alternative of like kind. 

You may also find certain markets where alternative rent strategies (MTR, STR, rent by room, etc) produce enough extra income to justify the increased work involved but the difference in income from the different rent strategies in many markets is just sufficient to justify the increase in effort involved.$100k is going to be challenging in coastal CA cities.  

I always hear the “Cap ex of 10% rule” but have yet to hear any alternatives.

But I always like to point out what I think may be a good alternative for small investors owning less than 5 currently mortgage properties.