F1 student (on CPT) - H1b Travel

[jeshwanth]

I am a student on F1 visa, working through CPT authorization. My F1 visa status is valid until December 21, 2018 (expected graduation). However the visa stamp on my passport is expired (so I have to get a F1 visa stamp, if I leave US). 

I am seeking H1B this April (with start date of typically Oct. 1st). My questions here are related to travel for a month, during one of the months of June/ July/ August 2018. Let's say for the sake of simplicity of questions, my H1b petition is selected in lottery. \

My questions are as follows: 

1. Can a person travel while H1b is processing? What are the effects?
2. Can a person travel while H1b is approved and has not started yet? What are the effects?
3. One can apply for H1b in two ways - consular processing and change of status. Which one would be optimal for travel during the months specified above? 
4. I read on one of the forums here that, if I file H1b as a "change of status" application, and if I leave US during H1b processing, my change of status application will be abandoned. I was wondering, what does that mean specifically? Will my whole H1b application get abandoned, or just the flexibility for "change of status" on Oct. 1st?
5. Does the same thing as Quest. 4, happen if my H1b is approved?
6. What should one know regarding using a consular processing H1b? Are there any negatives, other than that I have to travel and get a stamping?

Finally, are these questions being answered by someone at Murthy law firm?