So I've been playing this game about 2 weeks now and I love it. As a crazy srpg/dnd/card game fanatic this is right up my alley. I'm certain that I want to give money for the enjoyment I've already gotten out of the game but I'm thinking of a way I might maximize my value. As I understand it, the first time a treasure hunt is done it guarantees an epic. I also learned that the loot fairy can upgrade the rarity of your final drops. So does this mean that it might be worth it to wait to do each treasure hunt for the first time only once the loot fairy is there?
No. The guaranteed epic from the final chest of a treasure hunt is always the same item (it will tell you what you will get when you start the treasure hunt). There is no chance of upgrading that epic to something better as far as I know.
They are not affected, they work as normal whether it's the first run or not. Only one of the adventure completion chest slots is affected, the one which contains the guaranteed epic item. Make sure you're a club member when you complete a treasure hunt as then you will get a second guaranteed Epic item (a random one, not the same one) from the club slot.
Actually it is even better to complete treasure hunts BEFORE the fairy gets there since you would otherwise "waste" most of the fairy's enchantment Most important thing when completing treasure hunts is to be a club member to get another free epic+ item
I never tested this, but I'd wonder if you could get the fairy loot upon completing an adventure for the first time at all