It took me awhile to find the embargo, here it is so you don't have to: linky
At any rate, the Role-Playing section has a pinned thread called "The Laws of Sirius" that might help. The Employment Office has bounties posted- the big ones are linked to in a pinned thread at the top.
As for RP... you can do a whole lot in RP, but remember that some RP results in people shooting you. While it's fully possible to just leave people to get killed by Rogues, if (say) the LPI ask you to help out and you just go on your merry way, they may take offense to further operations in Liberty. It's an RP consequence for RP, nothing wrong with it. Think about what people may think of your actions, and let that be your guide to what you can and cannot do.
As for factions, a faction is a lot of work. If you want to fly as a group, just fly. You can easily remember each others names, and so long as your group can figure some RP on the fly for why you're hanging around, you're good (in other words, having your Freelancers and whatnot convoy up and mess around is fine, having your Blood Dragon hang with your mate's KNF is not).
If you've got any further questions, feel free to ask. We're here to help, that's the whole idea of a community.