There are some new private lenders out there. 4.75% for 30 years. 75% LTV. Backed by PE. So they are essentially hard money lenders but doing long term financing. 2 points or so. Best part is they prefer to lend to LLCs and Incs. No Fannie/Freddy restrictions. They will even do rehab to long term with no added fees. Just doing my DD on one.
Yes, 5.75% on a long term mortgage for an investment property is quite good. For a property held by an LLC or S-Corp, the rates are higher. Some people forgoe the LLC in an attempt to get a cheaper rate, but if you are holding the property for investment purposes and you do not live there, that is opening yourself up to huge liability (and if you do live there, it's still a liability, but at that point you cover yourself with insurance.)
Also remember that when you are evaluating an investment property, the interest rate is only one factor to evaluate. I know we are all trained to think about interest rates because we are accustomed to talking about home mortgages, but when you are looking at investment property, other things matter more. You should focus on the down payment plus the monthly payments. Don't walk away from a property that cash flows because you are startled by a higher interest rate.