Drilling Stainless Steel

Awesome. Thank you. I'm just opening the hole in a thumb nut and threading it for an air cleaner/carb stud. Similar to what's pictured:



I'm going to try this without breaking a tap, hopefully. Is hand tapping something like possible, or is it just a pipe dream? I've never worked with stainless before and the particular nut I need only comes in 18-8 and 316.