1. Dunno, can't find anyone to play co-op with
2. Shoot him anywhere/way. A headshot in general is an immediate kill but put a few rounds into his gut and he'll get knocked down and start bleeding out with a circular countdown timer appearing above him indicating his bleedout time just like it does for you/coop/gun for hire. Doing this to a bad guy is also a great way to kill other bad guys because they'll try to reach their comrade and revive him.
3. I forget the exact timing. I want to say it's 10 minutes. But there's a Perk for each individual gun/fang for hire that greatly decreases their cooldown time. I've played through the game 3 times now and have never bought this cooldown perk for any of my Hires, I just pick another GFH if one of mine is knocked out.
4. No idea
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