Createnspread has retired, it's impossible to keep up with Facebook's injustice
What are the best practices for Application Management?

You should be very creative, you can achieve a lot by adding a theme to an application.
You should be hard-working, take care of applications, moderate them if you can.
Submit your application to Facebook Directory as soon as you can.
When your application gets into Facebook Directory, starts showing advertisements of your application, so you will get LOTS of users.
Get everyone you can to use your application, this way applications can grow fast.
Use existing Application's Pages to promote your new applications.
With great power comes great responsibility, always respect your users and, the only thing forbidden is to promote products other than's and changing application settings.

Applications make money by showing advertisements to users provides you the option to get a share from advertisement revenue
All you have to do is to sign up to LifeStreet Media register the application you have created and get ad codes You should enter the "Advertisement URL"s you get to your Applications Settings This way you will get money from LifeStreet Media as your application gets viewed.