.$6K down may seem like a fair amount of money and it may be adequate for you (I don't know your situation). 

Has it received an adequate refresh?  

But I've seen cash tenants ruin a property just the same, so I think if you do adequate screening and let the tenants know your expectations with the property, it should be a good experience. 

The most important thing sometimes is to cut your losses, learn your lessons and move on.Just from your description, you did not perform adequate independent due diligence on the purchase and relied on the agent. 

@Joshua Storm, some HOAs are notoriously under funded, meaning that they are not charging enough each month to adequately maintain the premises.  

Could be that the last time it was repaired, there may have been multiple leaks and the technicians did not pressure test adequately or at all and frivolously charged the system.

Also BoA only could have force placed insurance on the property if you did not have adequate coverage, or they didn't see proof.

Although you may have adequate cash on hand, there are some great deals out there.

Nor will they provide a complete loan package that adequately protects you.

I haven't used it, but I assume SmartMove is totally adequate for the job.