The rate was fair at 4.72% with minimal closing expenses..

The chance of it growing on the pad was probably minimal since it had nothing to feed on.The second situation was one where the CL floor was installed over a parquet wood floor in a basement.

Will hard money lender‘s lend money for turnkey or properties that need minimal repairs or do they need to be properties that actually need a full rehab?

I want quality work that attracts tenants and minimizes issues. 

Use your time to check out tools like iGMS and OwnerRez, amongst others, to minimize the amount of work you have to do in creating/updating/maintaining the listings and pricing.

I guess the key is to find a property/town with a good supply of tenants to minimize vacancy and capex, right?

Ultimately, the faster you get to market rents, the faster you increase the value of the building which you can then use to refinance and get your capital back.Your key concern is to minimize the loss of rent if one tenant leaves and you have to find a replacement.

It's useable with minimal build-out as-is but any long term tenant will likely want to bring it to a more cosmetically pleasing state and spend a little money doing so. 

But if they're placing good tenants, minimizing turnover, and communicating regularly, it's more than worth it.

@Brian Holt the property foreclosed and has been bank owned since may 2018 According to mls is has been listed for sale over 250 days with seemingly minimal interest.