FYI: If you’re returning to WoW after an extended absence prior to patch 5.0.1, it’s possible that you’ll have more than the maximum pet limit and/or more than 3 of a kind. However, this will be the only time that you’re allowed to surpass these limits. You will have to pare down your collection, eliminating your duplicates, in order to add new pets.
This option is better to use at level 40+. Higher level you are is better, more money you make then. All you do is farming dungeons or specific bosses. Here you kill a few birds with one stone: you get lots of experience (make sure you have all quests in your quest log, always ask your teammates to share) if you are still leveling; improve your current gear; and loads of loot (clothes, recipes, even crappy grey items selling for a lot to a vendor). If you are in a group, think about your groupmates if they need an item or not, don’t roll need on everything.

Unlocking the Nightborne is a fairly straightforward process and, if you’ve been playing Legion, you’ve probably done most of the work. For starters, you’ll need to complete the main Nightborne storyline in Legion in order to unlock the “Insurrection” achievement. Completing these quests will go a long way toward earning you the Exalted reputation you’ll need. If you’re not quite there, then you’ll need to grind out Suramar world quests, though it shouldn’t take too long. 

The system is automated, meaning that once slots are available, beta testers will be chosen, without any beta key to speak of. Kaivax then goes to stress the importance of your account security, stating that, “any third-party e-mail messages, websites, or in-game whispers that offer beta keys or access to the WoW Classic Beta should be considered illegitimate and ignored or reported.”
Only really to expand on Gráinne's comment as regards the 'collecting' and 'roster development' sections - which are, as said 'distinct' although they are intrinsically linked - I would like to point you in the direction of the in-game Achievements > Battle Pets > Collect tab. There are a series of achievements called Raiding With Leashes, pretty much all of which can be completed via the auction house - if you have the gold/inclination - or by completing old raids.
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