Im a fairly hairy guy by genetics, so I can relate.
I generally use a dry razor. I just take my time, go slow, and I come out clean. Get in a position either in the tub or on the bed with a towel to catch the hair. Get comfortable and start shaving, being careful you dont nick any sensitive parts, like your anus.
I've never had any cuts, ingrown hair issues or pimples, but everybodys skin is different.
I'd stay away from the lotions/potions. They may compound the ingrown hair issue. Good ol soap and water always helped me after I shaved to clean and condition the skin.
Wax may be another one, but I think I would have trouble going into a wax place saying "Can you wax my butt? Oh, and watch my hole, its sensitive"
Sexy guys like BBB2.5 probably have women Jumping at the chance to wax his bod, so i'm sure he gets the loving touch by some very lucky ladies.
C