In reply to Toerag:
Good points from Toe.
You would need insurance, you can get specialist club or community centre insurance so could potentially be less financially painful that a mainstream business insurer.
I would also second the formation of a steering group of a few involved people whom can approve expenditures on maintenance and timeframes and ownership of stuff. Again it doesn't have to be an onerous affair, but if you clearly set out the framework on things such as inspections, maintenance, budget review, events you can't go too wrong.