Did you ever find a solution to this in blueprints? I could build something from TheJamsh’s description but I would be curious to see how you implemented it. 
I’m hoping you can toggle looping and non-looping and life span from blueprints as well. I have an automatic assault rifle so it fires bullets pretty rapidly.
I was previously spawning actors as bullets but it was causing major lag in my game. Especially with six AI units using automatic weapons at the same time. There will eventually be 40 units in the battle at a time so I really need a better system. Hopefully particle systems will solve the problem.