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In this paper, we discuss the properties of the generating functions of spin Hurwitz numbers. In particular, for spin Hurwitz numbers with arbitrary ramification profiles, we construct the weighed sums which are given by Orlov's hypergeometric solutions of the 2-component BKP hierarchy. We derive the closed algebraic formulas for the correlation functions associated with these tau-functions, and under reasonable analytical assumptions we prove the loop equations (the blobbed topological recursion). Finally, we prove a version of topological recursion for the spin Hurwitz numbers with the spin completed cycles (a generalized version of the Giacchetto--Kramer--Lewa\'nski conjecture)., Comment: 31 pages, minor corrections