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Fred Glick from Glick Watch introduces real estate management on the show. He discusses the importance of the rental cycle, consisting of property showing, renting, and turnover. Key documents needed include a rental application, lease agreement, and move in/out form. It is crucial to have all adults over 18 apply, verify their IDs, and conduct credit/background checks. Compliance with federal, state, and local laws is essential for successful property management.