please advise what a lipped rotor means on the front brakes?

yes roy is correct all short cuts will cause you more problems.they also call it dished, the wear of the pads make the center of the rotor dish which causes the edge to get a lip on it.most cars you can turn the rotors and the lip will be gone. on certain cars ex. benz,bmw,saab,audi and a few others the rotors pads and sensors need to be replaced every brake job.if you don't this can cause others issues that will make it more costly in the long run.do it right the 1st time and save $ in the long run along with hours of down time.