Track modelling tutorials can be found online but not specifically for LFS. There are various methods of track modelling, including the use of splines or lofting a path.
You can also use contour information to model landscapes, including the use of real contour maps to model real topography. You could buy a contour map of your neghbourhood for example, and recreate the local topography of the land around you in 3D.
Mastering a method of making a track in 3D is only half the battle, care must be taken to plan the track. There are many things to consider for good results. Pit placement, width and radius of corners, bumps and irregularities in the track surface, track camber, elevation changes, run-off areas, barrier construction and placement, trackside objects and more.
Making a racetrack in 3DS Max is not difficult, but making a decent track is always going to require planning and hard work for a satisfactory outcome.