I have a lot of saved up LP on my faction warfare alt. In order to cash in this LP I need to haul a lot of expensive material between the LP store and the nearby market hub. However, hauling lots of cargo in an industrial is extremely risky while still within faction warfare as I can get shot down in high sec without penalty.
It would be ideal to drop out of faction warfare to haul my goods, then join back up to continue the fight. Repeat on a daily basis. Are there any penalties (e.g. in standing, or a "cooldown period") for leaving and rejoining faction warfare (as an individual)?
Best Answer
No, you can do it any time, but I'd think about it twice and instead create a hauling alt. This saves you lots of trouble (repeated joining leaving; also spamming you corp history (which might cause others to think you've got something to hide)).
Create a second character on your account an train him so he's able to fly your preferred industrial. Based on the race and ship this should be done in less than a day. Once finished, you can once again set your main character to be the one continuing their skill Training.
Also keep in mind that you can still get ganked in high sec, even outside factional warfare or corporation wars. On the plus side, you can use that alt not only for factional warfare, but during active corporation wars as well.
More details, notes, tips, etc. can be found on the EVE University wiki.