The board of land and natural resources also may lease or rent any of the dwellings or other accommodations or any of the lands, buildings, structures, or facilities embraced in any development project until such time as it is practicable to sell the same in accordance with this chapter and establish and revise the rents or charges therefor; mortgage or pledge any property, real or personal, or any interest therein to any person, firm, corporation, or government; enter upon any building or property in order to conduct investigations or to make surveys or soundings; purchase, obtain options upon, acquire by gift, grant, bequest, devise, or otherwise, any property, real or personal, or any interest therein, from any person, firm, corporation, or government; own, hold, clear, and improve property; insure or provide for the insurance of the property or operations of the board against such risks as the board may deem advisable; procure insurance or guarantees from the federal government of the payment of any debts or parts thereof secured by mortgages made or held by the board on any property included in any development project.