I'm Lucy, and I'd be happy to answer your questions today.
Trustees of an association are not personally liable for the debts of the HOA, so that's not an issue. Even if they were liable, you wouldn't be, because you weren't on the board at the time. However, ligitation can be time consuming and frustrating, even when a case isn't against you personally. See if you can get more information about what the case was about. See if it had anything to do with wrongdoing by other members of the board - that doesn't necessarily mean you wouldn't want to serve, but it's worth knowing what happened so you can make an informed decision. You may also want to get minutes from past board meetings to see what those meetings are like - how long do they take, is there a lot of argument or other discussion, and things like that.
Also keep in mind that, as a member of the board, you could be in a position to help shape policies that could benefit your tenants, which in turn could induce tenants to stay in place. So weigh that against the other considerations.
If you have any questions or concerns about what I've written, please reply so that I may address them. If I did not address the specific thing that you wanted to know, it may not have come across clearly to me, so please restate that question. It's important to me that you are 100% satisfied with the service I provide. Otherwise, please rate my service positively so that I get credit for answering your question. Thank you.