Social Bookmarking Site-First site I've bought

So I just bought a social bookmarking site with Pligg CMS. It doesn't look to hard to manage. However, looks like the previous owner did no policing on submissions. Any thoughts on how to go about cleaning it up as well as monetization?

well I feel that adsense would be the best bet and you will know soon that almost 90% submissions on Pligg sites are automated.