Yes, the Mi2 collet is er20 and no you won't have to do any tuning to the machine if you keep it on the boxford software.It should just work
To home the machine - switch on the power make sure the e-stop is out (twist & pop), press the blue button next to it & wait til the red LED lights up, shut the door then press the top blue button on the panel. It should then home itself ( well, that's what mine does !)