Does anyone know if you play offline and switch to online, does your progress and items transfer over? Or does it wipe everything and make you start over ?
As long as you stay in the same save file, switching from offline to online shouldn't matter. You want would be at square one if you started a completely new game or joined a friend though.
Does all your acquired loot you gathered transfer over too? Cause I have a lot of stuff and wouldn't really care to have to get ot all again for online.
No. Totally seperate universe. Different guy you are playing.
This game can be played in different ways:
Some players run a single game for hundreds of hours and stay with the same character that has amassed all that loot. They might even play until that character has reached level 300 and beyond.
Some players start a new game after they have the best equipment they can get because it gets boring to them. So they restart at level 1 again in a new world and check out different perks and different ways to play
Some players play on permanent online servers, which is again quite different.