So is this the binding off for where you are splitting for the slit in the front?? If so, it is at this point that you will need to start using 2 balls of yarn, one for each side of the slit, OR put one sides stitches on a holder and complete one side at a time.
What I would do is this....work across all of the stitches for side one, don't bind off anything on this row. Start with a new ball of yarn on side two and bind off the first 16 stitches and finish the rest of the row. Turn your work around, work across side two on the WS. Pick up the yarn that you knit side one with, and on the WS, bind off 16 stitches then complete the row. One set of bind offs will be on the right side and one will be on the wrong side because you can only bind off stitches at the beginning of the row, not the end of the row.
As for the M1R question, I'm not too sure what that means either. Sorry can't be any help there.