Assuming an HOA is a homeowner's association, I can only relate one experience.
When I had an operation in the mid-Eighties back in Florida, I did the common areas for a duplex condo complex in Palm Harbor. The association was not difficult at all to deal with, but just as some people are great and others are knuckleheads, the same would hold for HOAs.
Might want to sneak in on one of their board meetings and see what it's like. If there's a lot of commotion or a tendency for one person to strong-arm everyone else...well, either scenario would give me pause. Organizational behavior is wacky enough as it is without inviting an open pathology into your life.