When to use 203K vs your own money

[Arthur Banks]

How do you determine when to use 203K financing vs conventional (fund repairs with your own money/OPM)? Is there a minimum repair amount you consider when choosing? Obvious this would depend on the price of the home. But if a property needs cosmetic (paint, flooring) vs say more overhaul/updating (paint, flooring, kitchen & bath update) vs (total gut or major system repair). I can't see financing laminate and paint for 30 years. Or would you use the 203K no matter what and keep and leverage your money?