1) After buying the house. No. What sort of emergencies anyway? Insurance got, car new(warranty), accommodation covered, work secured (stabil company at current economic condition and im a scholar= company spent 400k on me).
The way i see it, emergency fund is being kept not doing anything other than earning the 7.xx+ dividend in ASB. Atleast with property, i could leverage more by refinancing for further business/property ventures. However, note that i can liquidate the side business.

2) Hence why I put it lower than market. 6 months is only 4.2k. By doing this, I believe id get a more long term tenant. And also could control thier late payments by limiting utilities at stated late period. Lowering the risk of defaulting.

Also note that my young mind is being arrogant
Not the same place..