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Fred Glick from Glick Watch discusses real estate management and the importance of having essential documents such as a lease agreement, rental application, move-in/move-out form, and conducting credit and background checks. It is crucial to comply with federal, state, and local laws throughout the rental process, which includes showing the property, having it rented, and turning it over when someone moves. Everyone over 18 living in the property must apply, provide valid ID, and undergo the necessary checks.