as a bare minimum you should try for  somthing like 

any media that you wish to work with must be yours, or you clearly must own distribution rights.

when you create a tracker it tracks bit torrents and if its public anyone can use your tracker if they are not blacklisted. you will need a huge black list to keep out trouble

you will need a probably commercial grade connection if you tracker becomes popular

you might fit the definition of a broadcaster and fall afoul in certain jurisdictions in the near future

i didnt mention money, if you get money from such a site and there is any pirate material on it you run the risk of being accused of piracy for monetary gain and you start doing the kimdotcom dance it doesnt matter if the money was for t shirts and hats it will be considered a ruse to conceal piracy profits

Two things that are getting increased scrutiny are encryption and streaming [especially porn] the legal standing of these activities may be modified soon in the US

What jurisdiction?

If you’re in the US, see Metallica v Napster.

Well I wouldn't be opposed to setting up the server and corporation in any country that I had to to get it done.

I am based out of Canada and we have extremely good file sharing law precedent set many years ago by the RIAA trying to sue a Canadian for sharing movies online.

The judge said that you are allowed to share movies with friends, and nobody can determine how many friends any one individual has so sharing with thousands of millions through torrent is OK too essentially.

Also torrent tracker websites are not file sharers.

Thepiratebay and 1337x don't actually host any files.

the question of facilitation of piracy can be an issue

it doesnt have to stick if you get enough copyright trolls on you your wallet will get thin as you handle multiple court cases regardless of outcome

I recall something about canada considering a publicly broadcasted TV show to be in the public domain so that things like threes company or happy days are fair game in canada... is that true?

Never heard anything about the public broadcasting > public domain loophole but it doesn't sound too far fetched.

If anything, we are liberal with our copyright laws up here.

And if you ever want to set foot in US soil. I guess the piratebay guys would getva warm welcome from law enforcement if they tried to travel to the states.