[@Blue2][@Yogananda][@MissCapnCrunch][@tex]

So our missing question is timezones! What timezone are you in and what is your (average) availability? We don't need SUPER specifics yet but a general idea. 
As for me, I'm on the East Coast so EST. M-W are my busiest days THIS semester and for this semester I am most available in afternoons! As long as my stuff gets done, I can respond at "any" time. But that will change during summer semester! (If this does get to be longterm, which I hope that it will be, we can assess how available everyone is every couple months or as needed.)

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The sense I'm getting from everyone is an original setting with more subtle magic. 

I love the idea of a rotating GM but with primary emphasis being given to character-driven plot development. I could see this working out really well and it would offer a lot of creative opportunity/competing forces for anyone who wants to influence the plot, etc. 

In the spirit of collaboration, feel free to comment on ideas you really like or dislike but we need a place to start so here's what I'm thinking:

First, I want us to develop a PLACE. I think that it would be really fun to make our starting city/town be very rich in depth. As such, I want to develop it at the same time as our characters. Therefore, I think it would be interesting if each of us develop a building (or two) that are very significant to our respective characters (a guild hall, a bar, a public building, a home, something?). The general sense that I'm getting is we want this to take place in an original, fictional world. This is, frankly, too much work to do in a short amount of time but I bet just starting with one building each will give us a living town! 

Our characters, I think, should be limited to humans. Personally, I think that this makes it less complicated and sort of lessens the "special one" complex/cliche that tends to happen when other races are introduced (lol). Feel free to argue with me on this! I love me some half-elves. 

Most importantly we should develop rich back stories for our characters (if you have a character already that "fits" that's fine too). I kind of want to see what happens if we all have to be from the one city but I understand if we want to stretch past that, you'll only need to make sure it makes sense with the world rules we have. Once characters are made I think we can start roleplaying how our characters meet and interact. I don't think we would adventure with eachother over night - whatever the plot is. 

We also need some basic rules to govern how this world/location works. Perhaps the city is split down the middle between two rival factions? (Sounds kinda cliche but it can be developed.)
EDIT: Potentially we could have it be two different religions/deities? The don't necessarily hate each other but they both have a section of the town and benefit from that arrangement somehow?   

Lastly, magic. How much magic are we including? Is everyone okay with medieval style weapons, etc.?