Minimum recommended level: 250 (300+ if you want to play it safe).
Equipment: Fire and Holy protection, some physical protection could help as well.
(If you're rich that's easy, go for Falcon Set and imbue that Ghost Chestplate or Gnome Armor with Vampirism and Holy Protection, other wise i would go with: Zaoan Helmet / Ghost Chestplate / Fabulous Legs / Any Boots / Magma or Rainbow Amulet / Blister Ring / Falcon Bow.
Supplies: You should be able to do some area hunt with Diamond Arrows and Avalanches since they're weak to ice.
XP/Profit: That's a hard question since it depends very much on your hunting technique, skills/damage per hour and how much you could struggle with healing.