Use a stud finder to find studs and mark all studs with pencil line or chalk line.
Prime all boards with a shellac based primer to hide all knots from coming through the final paint coat , I used Zinsser B I N , two coats was recommended. This should take a while.The wood I have used is knotty pine with a V groove design, it comes in 8ft lengths and is priced at about .95 cents a sq ft, that is it covers 12 sq ft and is just over $11.00 a pkg , not bad, it is very thin and light great for easy installation , this product would be great for walls and back splashes , I plan to build a locker area in my basement and I will use this for the walls.