Should I use a 203k to finance repairs?

[Andrew Futty]

I'm looking to purchase a home as a rental property that needs a decent amount of repairs, probably upwards of $20k, but I don't have the cash to make them after the down payment. I've heard bad things about 203k loans, but I am open to it if that is my only option. Does anyone have any experience working with a 203k or know of any alternative to financing repairs?