If I refinance in the future, will I need to modify my ownership structure?

Look at a HELOC on your own home to fund the repairs, then refinance into a new mortgage (at which time you pay off the HELOC.)

Typically there are no prepayment penalties on hard money loans, so you can limit your holding cost if you're able to quickly complete the project and sell or refinance in a few months. 

To improve cash flow and manage your current situation, here are some potential strategies:Refinance for Cash Flow: Refinance your properties into long-term fixed-rate loans to reduce monthly payments and increase cash flow.

I had to pay contractors he stiffed in order to remove liens and refinance the property. 

The BRRRR strategy is always a great option, especially if you the liquidity to continue to purchase properties depending on how much you are recouping when you refinance.

Most importantly you can refine your phone technique at a low cost.

Purchase price: $280,000 Cash invested: $7,000 Light rehab, rent, and 30 month balloon to refinance.

My strategy is to buy properties for cash, rehab, rent them out, and refinance.

If it will take you 2 to 3 years, and you can refinance this before you break even, you are better off planning to do a refinance and save your money on the buy down.