I'm just wondering if homes that are furnished draw in tenants who don't tend to stay that long?

You'll need money for: closing costs, down payment (if any), operating capital to get the construction/rehab started (most HMLs reimburse you in draws for the work completed), along with some liquid reserves on top of that.

The advantage with the bank was minimal closing costs, a good interest rate, and a draw system so I could get funding as I completed each rental unit. 

You should think through how much this will cost with architectural drawings, a good GC, etc.

@Brad Kanouse I have an idea that doesn't involve drawing from your IRA.

In terms of the permitting process, an architect that can self certified drawings would reduce the wait time to receive the permit. 

I dont really have a lot of cash on hand (due to renos) and don't have any big loans or LOC to draw from.I have a background in civil engineering and have a good understanding of residential housing and construction.

This split my attention to the point where construction projects suffered while I also started underwriting things through rose-colored glasses which led to me drawing my HELOC to its max of 190k from a starting position of about 70 in just a few months.I also found myself not screening new tenants as well as I should have in order to get properties occupied faster to facilitate refinances that required occupancy, telling myself I had to to lock in those great rates and to pay the HELOC back off. 

They hold your money, spend it without your permission and you have to call and email incessantly to get a release of your monthly draw.

My client's have been happy with the draw process and response times as well.