That being said, I think it's always good to look at doing a "hybrid" arrangment.

If the tenant has arranged for utilities in their name, the property states Tenant. 

You also need to have a meeting ahead of time to make it clear that this is a BUSINESS arrangement and not to be treated casually.

In advance, you determine whether you will list on the MLS yourself, or whether you will get bridge financing, or arrange for a double closing. 

I'm based in London UK but am originally from Boston and am currently looking at multi families in MA and RI (just working with a mortgage broker right now to arrange financing).I am subscribed to some groups like Passive House Massachusetts.

I was to make arrangements to secure the property or take responsibility for an unsecured property.

I was able to get the "value history" on the houses (not sure how valuable that info is) and collectively, the total for the properties is $238k.Could some one comment on financing options for an arrangement like this and what sort of an interest rate I could expect?

(I'm not entirely sure how this would work so I would also welcome  advice on the structuring of this arrangement but this is not my question.) 

If you want cheap - I would just hire a couple guys who do demo, arrange for dumpsters and a plumber to repipe.  

Get your finances arranged first so you know how much you will be qualified for.