Hi, I finally got a job offer to start teaching in HK from mid-august. Although Im really excited about the offer I have a few questions I would like to ask:

1) Although I have studied in HK before on exchange and kind of know the living expenses, would $14000 per month be enough to cover accomodation (even if just renting a room in flat in new territories) and living expenses? Seemed like it was quite cheap to live when I studied there but guess it would be different once working.
2) Ideally, I would like to stay in HK after my one-year contract expires. If I couldn't extend my contract, would it be likely I could find job in company? I'm just graduating this year and although don't have much work experience I would have had experience of studying and working in HK.
3) Maybe a stupid question, but if I done this job for one year then changed to another, would that year I worked count towards the 7 I would need for permanent residency? Even if there was a gap of a few months before finding next job. I really want to stay in HK!

Thanks for your help in advance.