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Fred Glick introduces himself and discusses real estate management on Glick Watch. He emphasizes the importance of understanding the rental cycle, which includes showing the property, renting it out, and turning it over when someone moves. For the first phase, he highlights the need for a rental application, lease agreement, move in/move out form, and ensuring all adults living in the property apply. Glick stresses the importance of running credit and background checks on applicants to comply with federal, state, and local laws.