I just did bellows replacement on two boats about a month ago. First of all, dont save money on a cheap chinese bellows kits, but genuine Sierra or Mercruiser kits. This rubber will last 5-6 years vs 1-2 years for cheap chinese junk. Exhaust bellows is better to buy separately, half sleeve, something like
https://www.ebay.com/itm/Exhaust-Tu...321478&hash=item56512782a0:g:IREAAOSwcu5UOC~d
Next, since you are replacing the bearing, get a bearing installation tool and alignment tool. you probably need an expansion tool for bellows, otherwise it would be extremely difficult to pull bellows on the outdrive.
When installing the bearing, I made a mistake of tapping it in, afraid to damage it. it caused the bearing to be a little off from the flashed position, which in it turn, did not let me install the outdrive until my mechanic smacked it really hard a couple time with the installation tool and set it all the way in. If you dont have an outdrive stand, my advise would be to build a quick 2x4 or 2x2 board one. also put rollers on the bottom of the stand, it will make the job of dragging the outdrive back and fourt much easier.
And last thing I can say, if you think on finish the job in some period of time, double it

good luck and have fun.
P.S. wear latex or rubber gloves when working with bellows adhesives, this crap is toxic