An authority may:
1. Lease or rent any land, dwellings, accommodations, buildings, structures or facilities embraced in any housing project, and establish and revise the rents or charges therefor.
2. Own, hold and improve real or personal property.
3. Purchase, lease, obtain options upon, acquire by gift, grant, bequest, devise or otherwise any real or personal property or any interest therein.
4. Acquire by the exercise of the power of eminent domain any real property pursuant to the provisions of the laws of Nevada and rules of court relative to the right of eminent domain, civil actions, new trials and appeals, which laws and rules shall be applicable to and constitute the rules of practice in condemnation proceedings by housing authorities.
5. Sell, lease, exchange, transfer, assign, pledge or dispose of any real or personal property or any interest therein.
6. Insure or provide for the insurance of any real or personal property or operations of the authority against any risks or hazards.