I agree wholeheartedly with @Jessica-and-Henry0, @Heidi125. Your questions suggest that you may not have done all your homework yet and that can set you up for some bad experiences. Start by reading through ALL the information modules provided by AirBnB through the Help Centre on the website. Then spend some (considerable) time reading through the various posts on the Hosting discussion board. Here are some frequent issues you should be prepared for BEFORE your first guest arrives:
Guests make a reservation and later request that you "help them out" by cancelling it from your end.
Guests ask that you make an exception about one of your house rules.
Guests break one of your house rules.
You get a reservation request from a local.
Someone asks to come and see the space before making a reservation
Someone shows up to check in who is NOT the person who made the reservation
Someone doesn't show up at check-in time
Someone doesn't leave at checkout time
You expect a payment from AIrBnB that doesn't show up
Someone breaks some of your stuff or some of your belongings disappear during a guest's stay
I should say that, so far, I have not had any major problems as a host. But, reading through the posts on the boards here, these situations are not uncommon and many problems do seem to arise from hosts NOT being ready for them.