Do I need to have the account information for the checkout. I do not want user to be created. Can I just remove the rules and disable the account pane?
Or is something breaking in Commerce if and order does not have a user?
There are no side effects; it's entirely up to you and how you've built your site. If you don't want users to be able to access their order history or use an addressbook type feature on subsequent orders, then you won't lose anything by disabling account creation during checkout completion.
What you want to do is disable the rule that creates an account on Checkout Completion. It's under Store > Configuration > Checkout > Rules
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That I have found. But my question is that are they any side effects or problems with that?