Here's a thing I did stepping in that direction. In a discrete mathematics course, I made use of the discussion forum in the LMS in this way -- require each student weekly to pick a distinct homework problem from that week's section, post an answer to the discussion board, give a specific critique/advice for improvement on another person's post, and edit their initial post incorporating any feedback.
So in some sense I was trying to model the activity of reading and writing other people's (possibly substandard) math writing, and also leverage the students to engage in doing the feedback for me.
This being on Blackboard, there's a math editor for symbolic expressions, and optionally you can directly write LaTeX for those bits. I required students to learn the minimal LaTeX and write symbolic pieces that way.
This all occurred within a week cycle -- e.g., class Mon-Thu, suggested initial post Friday, feedback Saturday, improved solution Sunday. Grading was kept to either 0-1-2 points for both the finalized post-feedback solution, and also the critique to another person's work.
With practice I could get a weekly grading cycle done (along with some feedback of my own), for both the solutions & critiques, in about an hour for a class of up to 25 students. (Data shows for that number of registered students, I'd get about 20 submits weekly; taking 2-5 minutes, average 3, per submission.) That's in line with time grading for my other courses, but it felt much more mentally taxing -- instead of one problem I was grading longitudinally, for every submission I had to parse a unique problem and think about whether the solution & feedback made any sense (with assistance from the instructor solution guide), and any feedback from me had to be customized to that problem (e.g., no copy-paste from a FAQ document).