Even buying in a solid C as compared to a lower C-end area can make a huge difference over the course of time.So I say take the time and be patient to find something in the better areas you are looking in because you know now from experience what the alternative is. 

While screening alternatives, be clear with your expectations; time of response, repair solutions (new or repair), reasonableness of costs, how do they vet contractors/repair companies.  

Alternative loans such as hard money would be the only options?

@Bryan RichardsonIf you have a partner, would it be better to do each loans under both of our names or alternate each property under individually?

If not eligible to set up a Solo 401k and you have funds retirement funds which are eligible to rollover (e.g. funds not in a current employer plan), you can rollover retirement funds to an IRA at an IRA provider which allows for alternative investments. 

I tried looking into alternatives like self-directed IRA's to avoid the penalty & taxes but it's extremely restricted, and it seems that the only purpose is to make money for the IRA.

I seriously doubt that , there is a whole lot more being a contractor than truck tools and insurance .

The other alternative would be an over-funded permanent life insurance policy.

It’s an alternative to a loan.

Alternatively, you could buy cash and then get a private lender to loan you money in exchange for a 1st lien position (ie be the bank).