No flush bit with top bearing.

At this point reading and getting know the router would be a good ideal. You could purchase a router template guide set and plunge bit and take advantage of pattern cutting.....many will never understand templates...

I spent 30 years cabineg making and just used a router. When I started building furniture I had to understand the features on a router. Made a difference. ..

Good choice BBQJoe. Takes all the guess work out of cutting out the right size hole. Like you, I just bought the same router lift and building the router table. My routers are not top of the line and couldn't find the guide bushings that would fit them so decided to make my own template and use a template bit with a top bearing. I started with a 1/4" hardboard and drew out the outline of the lift plate. The corners on my lift plate worked out to be 1 5/8" . I used a hole saw with that diameter and cut out the four corners then a jig saw to cut out close to the line. Then I used a 3/4" strip of plywood as a straight edge and used a 1/4" bit with a top bearing to trim the edges between the corners. Just needed a little sanding to smooth some of the curves but it fit like a glove with about 1/32" play but easy in and out. I then used that template to route out a thicker pattern. I used a 3/4" piece of plywood with extra width and length to give me an area to clamp it to the table (not sure I trust carpet tape as yet). I did that to give me some height to guide the bearing bit down into table top. For the depth you will go will require multiple of passes so the height is needed and couldn't get that with my first 1/4" pattern. I plan to leave a 3/4" lip for the plate to sit on and a little deeper than the thickness of the plate to give room for the leveling screws. I've seen where some have fabricated a metal insert to set on the lip so the levelers don't sink into the wood during use, which will lead to continual leveling problems. There are four corner machine bolts that hold the plate secure once it is level. You may need to install inserts for them to screw into or drill straight through and use longer bolts with a fender washer and nut. I haven't gotten that far yet but the slot for the plate should be a little deeper than the plate thickness. NOTE: the Kreg corner leveler attachments are NOT meant for the Jess 'em as the bolt holes do not line up. Jess 'em sells their own corner plates.

I'm new at this as well and stumbling through the process. I'm wondering if the plate should go right in the middle of the table or a bit to the back for more table room or closer to the front. I haven't cut the hole for the plate yet and still wondering if a bearing bit can be plunged or do I drill a starter hole Guess I just have to give it a go on a test piece of wood.

Good luck on your project and keep posting as I need the help too.