This is not correct. You're part way there. Things like "have lights, DOT windshield, DOT seat belts, doesn't go over 25 mph" etc are all in fact requirements. But those are the simple ones. The trickier ones are what keep most of these from being street legal. The noisemaker has to meet all the FMVSS requirements of noisemakers in full electric cars like Teslas, Nissan Leafs, etc. The backup cameras have to meet the full FMVSS requirements for backup cameras in all full size cars. Even the factory doing the assembling has to be registered with the NHTSA and have a WMI - it's not enough to build your own factory and self certify. If you don't have NHTSA registration, a WMI and vin numbers that match a specific decoding sequence on file with the NHTSA for your specific factory (Which is why your factory has to be registered with NHTSA), your LSVs aren't street legal at the federal level and can't be imported to the US legally for on-road use if produced abroad. This is all in the document you've linked, you just haven't followed through to the sections listed in each requirement to see what the specific requirements actually are.