Use cash out refinance money vs Seller finance at 4.5%?

[Jona Santiago]

We’re pre approved for a cash out refi  with an interest rate of 3.65% on a 30 year loan, closing costs of $7k. The seller is offering financing between 4.5 - 5% interest for 10 years.Not sure about closing costs. We’re new investors. We’re leaning towards just using the cash out refinance route mostly because of the lower rate. I’ll have to borrow $30k from my 401k for the down payment if we accept the seller financing. What would you do? Any suggestions will be much appreciated.