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Fred Glick from Glick Watch discusses real estate management and the importance of having essential documents such as rental applications, lease agreements, and move in/out forms. It is crucial to conduct credit and background checks for all applicants and comply with federal, state, and local laws. The rental cycle is broken into three main parts: showing the property, renting it out, and turnover when tenants move. Make sure all adults over 18 living in the property apply and provide valid ID.