Then we take draws on that money during the rehab.

I don't know the exact number of days if you get a hard pull on your credit, any subsequent hard pulls don't affect your credit.

I have many resources to draw upon, but lack initial capital (my family is in debt and this is the way I see of being able to help them) and more importantly lack investor knowledge to draw upon.

Afterall you don't want to be short for the mortg and attempting to get money in before the draw date (assuming it is an autodraw because it seems like a lot of lenders are almost requiring that). 

It's a big draw for investors of all experience levels.

How do draws work?

., but I am just looking for a ballpark number for construction cost $/sqft in the area as well as costs to draw up plans.Any information or connections to good contractors and architects will be GREATLY appreciated!

Fix n Flip loan would finance purchase and give you credit line for the rehab (works on reimbursement draws as you complete work).

Would you be willing to receive four draw payments that would correspond to four phases of the rehab project?

Regardless of hard money or conventional - you will most likely have to fund the first draw up front initially anyway.