Is Airbnb as bad as they say

[Brian Erlich]

My wife and I own a vacation rental in Panama City Beach, FL.  We have typically used VRBO to list our property.  I recently started listing on Airbnb as well and hoped that people with experience can provide some pointers about hosting on Airbnb.  

I have heard many horror stories of a guest complaining and getting a full refund at the hosts expense.  The plot of the story is usually about an innocent host being taken advantage of by a dishonest or unreasonable guest.  Has this been your experience?

Are there any gotchas to be aware of?  Have you had bad experiences that I might be able to learn from?

Thank you in advance for your experiences.