So long story short, took a break from guitar for several years. Been playing for about nine months now, if I added all my experience up I might have been playing two years.
Question is: I have a friend who is urging me to start a cover band with him. I have the gear to support such an adventure, but I dont feel ready. What kind of place to I need to be to really do this(playing gigs is part of my friends plan)?

Is there a level I need to be at before I even entertain this idea?

What sort of milestones should I try and achieve before I can play at this level?

If it matters, the band will be covering simple stuff like Blink 182, ACDC, they even have some No Doubt stuff on their playlist. If I were going to play rhythmn guitar I would be optimistic, but they want me to do lead. Any and all comments welcomed. Thanks in advance for your time.
Listen dude, all you need to do to play in a coverband is know the song.

Get with your band, have a place to practice, practice with them, practice by yourself, and master the songs your band wants to cover.

When you have the gear you need, and you've perfected the songs, your ready to start gigging.
if you can get the songs down perfectly, and even add a little something something such as your own solo or change the solo around, i say you're ready. But all in all, it's up to you to know if you're ready to play live
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if the idea of going out in front of a bunch of people and showing them what you do with a guitar is cool with you than absolutely yeah. if not, youre probably just being hard on yourself. nobody will expect perfection so if you think you can pull it off at all, just crank it up and go for it.
If you can play the songs, then you can play in a band. As long as you guys have a place to practice, youshould be just fine. Altho I think you should be able to improvise a solo decently well, especially for playing AC/DC stuff.