I am totally new to this and would like to minimize the chance of blowing my first deal.

At the end it's a lesson learned and your best bet is to minimize your losses.

I'm new to this so I only know a minimal amount .

Afterall, I also am a member of Motley Fool, and I'm sure their impact on the NYSE is minimal.

I currently run production for a large company in NYC and it takes all of my time, leaving me minimal time to focus on investments.So, I know how to produce million dollar commercials and photo shoots; how can I translate that into a job in real estate?

I do agree with Scott, appreciation in that area may be pretty minimal.  

What is the best way to get rental properties out of an S Corp in order to minimize the tax implications?

As in, not only do they lose minimal value, but ideally they continue to rent and cash flow decently even when downturns do occur?  

I personally think people are better-served maximizing after-tax profits than they are focusing on trying to minimize taxes.  

It is my understanding that Colorado has some specific laws in addition to Dodd-Frank that relate to owner financing.Personally, I don't see where a lease option would not suit your situation with minimal risk.