[MRM]

I think that if you take on the property it will change the dynamics of your neighborhood association and eventually destroy it. Your association right now has achieved a state of equilibrium where all of its members work together for the common good, not because there's anything in it for them, but because they are willing to contribute their time and skills to a larger organization. If you introduce the new property, all the sudden you will inject something of monetary value where nothing but good will and shared sacrifice exists. No matter what you do someone will feel cheated, someone else will feel taken advantage of, and someone will accuse someone else of profiting at the expense of the rest. Some of the people who put up the money will expect to have more say than those who didn't.

You should politely decline the offer and keep your HOA exactly as it is.