Well, I could try to answer your questions but it wouldn't help you much. You know the old saying, "teach a man to fish..."
So here is a good pond to learn in; https://www.cnccookbook.com/
I would buy their speeds and feeds calculator. You will need it.
I would also invest in a good set of digital calipers and a micrometer. I would measure your tools and use the number you see with your own eyes. Even a cheap set will have better resolution than your AvidCNC machine but get a nice set as they will be your best buddies in this brave new world of yours.
I would also start watching the how-to videos on YouTube. Especially the touch off plate how-to video here;
Then you will know where you are on your stock.
Good luck!