Occasionally I will get motorboating on my audio interface, usually occurs when I add some CPU intensive look ahead plugin to an already taxed project. I just reboot, restart the project, then it allows me to add that extra plugin.
. . . but I have never had motorboating occur from merely opening a project as you describe.
I think it's caused by a plugin (or too many) that your audio interface can't handle, or a buffer setting too low, but for me it usually happens when hitting the play button, sending the audio into an overload. Scares the hell out of my cat. Sometimes I ask too much from my 15 year old soundcard. What audio interface do you have ?