Doing some of the maintenance and refurbishing to your own airplane will give you a great deal of satisfaction, give you greater confidence in the reliability of your airplane, allow you to understand some of the little noises and quirks in flight, teach more about systems than you will ever learn from the pilot handbook or flight manual, may save you significant amounts of money and improve the appearance of the bird.
There are a lot of things that you, as a licensed pilot operating under FAR 61 can do to an airplane, so long as that plane is not used under part 121, 129 or 135, and the list of items is almost unlimited if you are under the direct supervision of a licensed A&P mechanic.
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