@Banibrata0 you've got a few questions here, so I'll try to answer each one individually:
1. It is important to try to vet your guests as much as you can. As a new host, I would not recommend you use instant booking (IB). Make sure you turn of IB in the settings. That way, guests will have to request to stay with you and you will have 24 hours from then to accept or decline them.
Ask the guests to tell you a bit about themselves, the purpose of their visit, who they are travelling with etc. Make sure that they understand your maximum guest count and are not exceeding it. Make sure they have read your listing and house rules and agree to the latter.
If the guest already has good reviews, check also the reviews they have left for other hosts. Sometimes you can spot a few red flags there.
It is really important to have a clear listing and clear house rules. These should include no parties nor events, no unauthorised guests or no extra guest at all (whichever you prefer), quiet hours (mention that it's a quiet residential area), that guests who are excessively noisy and disturb neighbours will be asked to leave and that guests will be charged for any damages or excessive cleaning. This should help you avoid problem guests to some extent, but it's also really important to have clear house rules in order to get help from Airbnb if you do end up with a problem guest.
See this article: https://www.airbnb.co.uk/resources/hosting-homes/a/ground-rules-for-guests-554?_set_bev_on_new_domai...
Another thing you should do is have external cameras so that you can see who is coming and going, e.g. by the front door. It's really VITAL that you very clearly disclose these cameras on the listing and probably a good idea to remind guests of them before they book. I would not advise having internal cameras as this is a sure way to run into problems with guests and they could report you to Airbnb for invasion of privacy.
2. No, don't wing it! Do your research. Have a look at other airbnbs in your area. Look at their calendars, look at their reviews. Do they appear to be getting enough bookings? What can you offer that guests coming to your area might want that the other listings don't? What can you do better than they do? Check out their prices. Start off with pricing a bit lower than your competition, but don't price very low. Then, once you have a few good reviews, you can start putting the price up to be in line with the competition.
3. Make sure you keep all communication with the guest on the Airbnb messaging system so that you have this as proof if something goes wrong. If you do have to have a conversation with the about something important/difficult in person, over the phone etc. then follow it up with a message on Airbnb to reiterate what was discussed.
In theory, if a guest leaves you a retaliatory review because you called them out on breaking house rules, causing damage, extra guests etc. then you can request Airbnb has it removed. See here: https://www.airbnb.co.uk/resources/hosting-homes/a/a-simpler-way-to-dispute-retaliatory-reviews-552
However, in practice, hosts are finding this system a bit hit and miss, with Airbnb CS refusing to take down reviews that are clearly retaliatory, so it's not fail safe. However, you do have the right to respond to reviews, so you can clarify to future guests that this guest is only leaving a bad review in retaliation.
