Not only it is mortgage fraud, it is impossible to pull off because these days lenders compare your application with the IRS transcripts.I also urge you to pay attention to a crucial point made by @Linda Weygant: you cannot just forego available deductions to create higher income.

You don't have to worry about a down payment and you can use the current rents as income on your application.

I would purchase an apartment building as a limited partnership where I was the general partner and signator.

The leasing manager was able  to convince me to deposit the holding deposit check the same day even before filling my application form.

Because of the loan limits a lot of those properties require more than 20% down

Homebuyer Requirements for the Welcome Home Program Total household income must be at or below 80% of Mortgage Revenue Bond (MRB) income limits.

Legal lending limit,  geographical restrictions, 5/7/10 year rates, Amort maximum, DSCR Req, max Leverage, banking relationship. 

I have a full time job so I have limited hours to develop and support a fully fleshed out marketing campaign.

Those companies often advertise larger amounts of LOC available but are more often limited to newer borrowers. 

I tend to lean towards highest income possible as opposed to best "applicable experience".Especially curious to hear from full time investors here.