Production Servers - Migrating from Physical to Virtual Machines (Both OS & Database & IIS Servers)

Currently we are doing Production Servers - Migrating from Physical to Virtual Machines (Both OS & Database & IIS Servers).

Planning to migrate to Windows 2016 & SQL Server 2016 / 2017 .

We do have FileStream enabled and FS content for each DB is 500 GB+ . Like wise we have close to 7 TB of data for each PROD Instance with AOAG .

Can anyone who are using VMs for PRODUCTON Applications , can share any insights which will be helpful for me planning.

1. Are there any Memory Limitations ? Not more than 128 GB ?
2. Are there any Drive level limitations ? I heard we can have  Drive expansions only up to 2 TB , More than 2 TB performance issues . MBR limitations and not more than 2 TB a drive can be extended . Can I get some help for this point .
3. How the Single point of failure should be planned ?
4. If I backup SQL DB AG Replica at VM Backup level , will I get all the data backed up ?
5. How the performance works with VMs compared to Physical Servers ?

Please share some inputs . Meanwhile I am reading article's for all the points as well.

 Thanks

Best Regards,SQLBoy