Is 5.70%, 5/1 arm a good deal to cash out from Rental property?

[Alex Get]

Your answer might be, it depends on so many factors.Before you give me your opinion,  here are some details of the deal, I have few debt free rental houses that i want to cash out to purchase another rental house.in my lender search I found an investment lender (hard money),which doesn't require either W2,or income debt ratio. What their requirement is  just bank statement,  good credit,rental income,not less than a year purchase property.I also want to you know that my income debt ratio wouldn't qualify me any traditional lending. and also what other product they have is 6.75% for 30 years fixed rate.

so I have good rental flow of money to pay off with in 5 years and also want continue to cash out from other houses. I feel its a good deal but if you have a recent hard money lending experience,please share me your opinion out there?