Can ACF be used for this type of project?
Yes it can, but it would be more complicated than the tool you are using. The one you mentioned is really meant for non-coders where ACF is really meant for those that want to build the code themselves. ACF only provides the admin field for entering information, what you do with that information, including how it is shown on the front of the site is entirely up to you and the code that you build.
How would we set up ACF for this project?
Actually, this would be far more involved that could be stated here. It would depend on the specific details of your project.
Can ACF provide a search tool to find items in the database?
No. As I noted above. ACF does not provide any front end functionality or even admin functionality other than building the UI that others use to enter the information. Searching this information would be completely dependent you building code to do the searching.
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