Now, here's a law to reckon with...
Here's some language from Texas' HB222, called to my attention by the ever alert Fred Pilot and circulating around the newsgroups. It's nice to see this acknowledgement of the fact that municipalities in many states are mandating the creation of HOAs as a condition of allowing construction.

"Sec. 212.002. RULES
...A municipality may not adopt a rule that requires the creation of a property owners' association as a condition of approving a plat."