This sounds complex, and if the conclusion you're coming to is mortgage fraud, I would not recommend it. 

Starting from 2016 she has several things like giving false information to law enforcement officers, Shop lifting, battery and more giving false identity to law enforcement officers and then the felony for identity theft.

Equity stripping, or equity skimming, is a type of real estate fraud scheme.

There are fraud.

@Seidy Lasker Wash sale rules apply to stock options if they are deemed "substantially identical" to a security sold at a loss within 30 days, such as options with similar expiration dates or strike prices.

You will be asked to disclose this during the application process, and not doing so is concealing a debt and would be fraud. 

Are all units identical? 

It may or may not show on a credit report, depends on the servicing and you should have the loan serviced.Failure to include the debt on a future loan application is mortgage fraud, wanna go to jail?

Are there other more creative ways to start cash flowing in year one Be careful because federal mortgage fraud and going to jail is a real thing.

It will be an identical home to the one I’m currently building, and I expect to need no more than $160K in financing.I’m not looking to overextend myself by taking on too much debt, but I want to make sure I’m approaching this in the right way.