Advice on Prepaying HOA Fees

[Chad Putney]

Good morning BiggerPockets,

I currently have one door (former primary residence purchased with a FHA loan) that is a single family home with a HOA. I am actively looking to purchase a multifamily property and want to reduce my 2020 taxes from my W-2 job as much as possible and put any refund towards my down payment. I'm wondering if anyone out there prepays some of their expenses like HOA fees (or others) in advance and what potential negative impact, if any, it could have down the road that I am not seeing?

Thank you in advance!

Chad