I feel most portions of the game that have maps, I could still detail them enough in a post to convey the area. But I feel it taking place in such a large city and things to do in there, I think it helps to make a play by post RP easier. It is when combat occurs and depending on how many people are involved, I may need to create a map here to easily show where everyone is. 

When a combat starts, I'll roll everyone's initiative, then I will group the average of the player party and enemy party to help decide the turn order. That way with the players can act as a group than in a queue. That and you players can post when you can than waiting for someone to post and move the turn. I would wait at least a week for player to post what they did on their turn before doing the enemies turn, but if everyone does it before the week ends, then I may post early.

Also I am not an encyclopedia with forgotten realms. The most I know are from a few Drizzt novels, a few modules and live streams that take place in the setting. But the Waterdeep module does have about a 25 page details the city and more pages outside of that still lend some extra information if needed.

If we decide to do this, I would start everyone at level 2 than 1 for reason mentioned in my previous post. This module has leveling based on the progression of the chapters. For this campaign, I would prefer if people created characters based on official or UA materials released from Wizard of the Coasts. But I am open to other ideas, but let me know first and I'll decide if I would allow it. I have been using this [url=http://dnd5e.wikidot.com/#toc1]site[/url] for creating characters if anyone needs help searching for a collection of character creation stuff.

Another question I have is how should we handle our character sheet? I've seen some people use some online resources, but I haven't used them before and thus not familiar enough with them. Or are we just going to create a template here on the site for players to use and update?

But as [@Chiro] mentioned, there are a few of us have with some experience of DMing. I just feel like sharing my knowledge and ideas when DMing. But it feels like we should come to some decision of the setting and who will DM. After that we should probably move this to a new thread with these decisions made.