A few tips I've picked up...
Take pictures of the rooms in your house with a digital to make sure everything gets back in the right places. Hide valuables. Try to keep people on the ground floor or in a basement (basements are good because its easy to see everyone). Try to keep everyone away from bedrooms, jewlry getting stolen would suck. Don't plastic bag the windows, but draw the shades, and limit cars/make people park far away. Have friends around who will help you hold down the fort and keep an eye out for potential problems. Don't be afraid to enforce your rules, if uninvited guests show up turn them away, and if you dont like **** thats going on, speak up. Keep everyone inside, as long as there is no problem outside, cops have no grounds to give you trouble.
But most importantly have fun, let your friends know that if your going to take the risks, you want to enjoy it, and they should assist in making sure everything goes smoothly. No one person can control a party, but a few assertive voices can keep things in check