1. Yes, mostly water with some blood, like washing a wound in a stream of water.

2. It runs thick and doesn't clot. It isn't standard human blood, and by week 4 it's thick and viscous and stays liquid, if a thick liquid.

3. It will make you feel sick if you drink more than a small amount at once, and doesn't digest well for most people. If a character drinks blood in canon (like a vampire), it will be somewhat nutritious but not what they're used to or expecting.