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forgot about the switch part. yes, the switch is a normal thing. new installs usually have this mounted right on the side of the furnace

yes, that can be done and is common practice. it saves money having to run 2 wires to the same area. EXCEPT IT HAS TO BE DONE RIGHT IN THE PANEL. you have two phases in the panel, they are 180° apart meaning that they are opposite of each other allowing you to share the same neutral...