Advice needed on the Do's and don'ts for starting Facebook ads

Here's a list I hope is helpful!

Dos:
1) Read the pages terms and conditions at https://www.facebook.com/page_guidelines.php and the advertising terms and conditions at https://www.facebook.com/ad_guidelines.php. Most of the things not to do you can easily see by reading both of these pages in 10 minutes or less. If you skip reading them, you will likely suffer for hours.
2) Test and apply many targeting variations. You can find your ideal audience best by testing different possible audiences compared to assuming you know the right one.
3) Create simple ads that clearly communicate the value you offer.
4) Check your page functionality on every device. If your app or offer loads poorly on mobile, make sure to remove “mobile newsfeed” from the options.
5) Check your ad formats. If your ads looks terrible in the newsfeed or right hand column, remove that placement.
6) Make many smaller campaigns and ad sets instead of one larger one.
7) Use images you have copyright for or stock photos.
8) If people will visit your Facebook page, build your page large first with a global audience to establish your fanbase. People in the US/UK/CA/AU are unlikely to trust or interact with a smaller page. This fact makes getting started more than most advertisers can handle.
9) Prepare for unexcepted opportunities by having your email address or another method available for your fans to reach you. For example, my recent flippa auction led me to get another great type of business offer before my website even sold.
10) Give your most enthusiastic fans all the content they can handle. Most people will do little more than look for 10 seconds and leave. A few people will go through every single thing you have posted. Make sure wherever you send people that your most avid fans have the opportunity to dig deep into who you are and what you do.

Avoid doing anything on this list with Facebook advertising:
1) Using images that have a lot of text.
2) Create ads that are obviously false, misleading, or offensive. Just one “report” on an ad can ruin your CPM or even get your account banned.
3) Offer adult or illegal services or be disgusting.
4) Target minors for certain products such as weight loss or health foods.
5) Use hate speech of any type.
6) Apply Facebook advertising coupons bought from any third party.
7) Try to create an ad prior to verifying your email address.
8) Ask for a like or a share in the ad because it sounds desperate.
9) Use images from Google images or any source where you do not have permission from the copyright holder.
10) Add anyone you do not trust as a “general user” to your account or an “advertiser” to your Facebook page. I ask my customers to do this after they have already paid me and watched a few of my top ranking Facebook advertising YouTube videos.

Also, once you get going, or even now, set up retargeting on your pages. This will almost always increase conversions/ROI/profit.