No idea where to begin!

Began to sand one fender panel down with the 3m paint and rust remover but after going through 4 just to do 1 panel I realized that those discs were maybe not the most cost effective way of going about it. Poisondart74 has been a great help, and he told me about these sanding discs that I plan to buy, I guess they go in an angled grinder?

Weird, my experience has been just to opposite. I found the 3Mm disk to be much more effective at removing paint from large surface areas than a DA with 60 grit disks. The HF disks are imitations of the 3M stuff and will probably work ok but won't last anywhere near as long. Yes, they are used on a 4-1/2" angled grinder.
Another very effective paint remover is a wire wheel on an angled grinder. Use the coarse wire variety, not the short, fine wire versions. You will need something with grunt. The flat wheels can be turned over periodically as well because the wheel will take a set and flipping it over rejuvinates the stripping action. Be careful on exterior flat surfaces though so that you don't overheat them and distort the metal. That creates a whole new source of fun. Good luck. L8r