Simplifying Complexity, One Answer at a Time!
Rules
Off the top of my head...
It can definitely be a thankless job at times, but also very rewarding to see the community flourish.
I imagine the types of actions you'll do is similar to what can be seen in sh.itjust.works/modlog . It'll be less work in the beginning when you have only a few users, but no one's gonna blame you if you stop. Well maybe you'd want to pass the torch to someone first.
I realize this isn't an ELI5 explanation, but https://join-lemmy.org/docs/en/users/04-moderation.html is a good, basic primer on moderation in lemmy.
Not specific to Lemmy, but basically you remove spam, offensive posts/comments and cultivate the space the way you think it should be.