The faction warfare LP party is over, at least for those in the Minmatar militia:

We have to wonder if it was the Goons keeping everything at Tier 3 or better. This is the only time I've seen the Minmatar militia at Tier 2.

At tier 2, you're going to make about 30m ISK worth of LP per hour, assuming you can run six plex per hour. You'll do better with level 4 missions.

On the other hand, that's still decent ISK for completely new characters. If you want to get a new person into EVE, consider pointing them to faction warfare. They'll learn combat, d-scan, and other useful skills while still making a decent income.