What are the tax implications of paying myself to property manage?

[Brendan M.]

I just bought my first multifamily property and I have been thinking about how to maximize my tax benefits on it. If i can write off property management fees as an expense, can I pay myself (either as a sole proprietor or LLC) then write that off as an expense as well? Would the tax benefits of writing it off as an expense just be balanced out by having to pay tax on it on the receiving (PM) side? Thanks!