There is a guy on YouTube who bought an abandoned railroad and got equipment and starting to work on it. https://youtu.be/MaR0NJau6Zw

This one seems particularly appropriate.

https://www.youtube.com/watch?v=DgJEb0mShXc

One thing to consider is the status of the RR you are buying. Are you buying neglected ROW and intend to serve a customer on that line, or are you buying an active RR that you think you can do better?

If you are buying a inactive line, consider where you are at and what you are hauling. Many adjacent landowners may have assumed the RR is abandoned and may fight you. Are you planning to haul tank cars of radioactive waste, hopper cars of pig entrails, or boxcars of high explosives, and the tracks go around a new multi-million dollar development, where nearly all of the residents had no idea there was some rusty rails in the tall weeds 20 feet from their back fence? Good luck, every one of those residents is going to sue you to shut you down.

This reminds me of a couple of quotes from early astronauts about the space program. When asked what the rockets flew on, one responded 'funding', to which another responded 'without the bucks there's no Buck Rogers'.

If you are even remotely considering a railroad have your FINANCING completely in place before you do anything at all. Remember the old adage about "the men who manage men manage the men who manage things"? Well, the men who manage money manage the men who manage men... or the men who nominally used OPM to finance their attempts.

Have a VERY carefully documented plan either for profitability or to guaranteed deep pockets.

Interesting videos! He puts on a good show! Has any revenue traffic moved yet?

Nope.
Watch this one.
https://www.youtube.com/watch?v=B9nAECXqzqA

No no no! Do NOT give the gang here a new way to blow hot air around! lol

Seriously though, I think you might've shared the wrong video.

By the way --- WELCOME TO RyPN Ray !!! I hope you find something here you can use.

I hate when that happens !
Let's try this one, hate to say it but he
sounds kina bummed out.

https://www.youtube.com/watch?v=DgJEb0mShXc

Yup. Look at Texas HSR, or the misnamed Boston Surface , for rail operations who don't seem to have the funding part together.

Having done a lot of these over 30+ years, and worked with both great success stories as well as memorable burnouts.....

When I get cold calls for startups, what I listen for....

1) Experience in railroading - with an existing FREIGHT carrier
2) If not business education, business experience of some kind. Understand your potential customers and what they actually need (and might help fund).
3) Ability to communicate, motivate, and work a 12-hour 7 day a week if that's what it takes to succeed.... basic leadership skills.
4) Willingness to work with politicians, etc. without going political, and understand how it works both ways.
5) A true understanding of just how difficult working with a Class 1 can be, in terms of communication, rates, service, etc.
6) Ability to hear bad news and as the song says, know when to fold 'em if that's what all the information, research, and attempts finally get you.
7) You'll spend a lot more time with paperwork than you ever imagine. Ready for that?

There's a LOT of competition out there by the shortline and switching conglomerates to pick up virtually any piece of track that actually has potential, if you do find something good assume you're not going to be alone, and they have the starting advantage with support staff, insurance coverage, regulatory coverage, and Class 1 relationships.

The boom days of short-line and branch shedding are pretty much over, but there's a lot of semi-abandoned coal branches that have painful days coming. Be careful. Look beyond the tracks for transload opportunities as the days of loading boxcars at docks are all but a memory.

Does the East Terminal have to legally be a "railroad"? If all the right-of-way is owned continuous without crossing a public road is it a common-carrier?

Even if track is on the private property of a customer as long as it does not cross anyone else's land does it have to be a railroad?

As long as the ET locomotive stays on its own property (or that of a customer) and does not enter the connecting mainline RR to pickup and/or setoff cars the loco doe it require federal inspection etc.?

Might this be a solution to all the legal stuff he is facing and troubled finding a solution?

My understanding is that if it's connected to the 'general system of transportation' it has to be a railroad. Doesn't matter how many crossings, or if it's on private land, or it belongs to a non-profit that laid their own track. If it's connected, it's a railroad, and has to file a railroad's paperwork with the FRA and others.

Not sure what the point might be of starting a railroad of the kind the OP seemed to be wanting to know about if it doesn't interchange cars with anybody.

What railroad does East Terminal connect with? Are they aware of and in agreement with what is being attempted? Has the switch to these spurs been removed? If so, will they reconnect and at what cost? More importantly what will be the annual maintenance cost to keep it in use? If this is a main line switch on a signaled track the cost will be higher.

Playing trains is expensive! HO gauge is cheapest!

It’s simple. He accepts cars in interchange and delivers them to customers, he’s a railroad and a common carrier. If he’s just playing trains on a piece of track, he’s not.

I think he’s connected to NS.