I tried that and it's technically working, with some difficulties.
- The 1 $ household was able to use free real estate to move into a home of their choice, however, the household funds were shown as -11,477 simoleons afterwards (beats me where it gets this precise number, probably the value of the furniture on the lot?).
- Entering the lot revealed that they really had a negative balance and could't buy anything
- Using the "money " cheat returned an error only
- Using "money +11477" brought funds not to 1 again, but to 11477 simoleons. From here on the household should behave normally, but one never knows. Good thing I did both of those movings in the photoshooting save only, not in the gameplay save.