Soo, I was reading through the commonly asked questions and I came across a fact I have known for a rather long time now. You can't steal peoples clothes. Then it occurred to me. That is a huge missed opportunity. What if a murder is in a building with CCTV. A good concept would be to take his victims clothes to increase his chances of getting out unnoticed. I am aware of the reasons behind this rule and I completely agree with them, however most clothes aren't a one of a kind thing and can be easily replaced.
No, you can't steal clothes. Upon death you lose all things you had on you but clothing, it stays with you.
I'm pretty sure you'd be able to change clothes though! Like if you kill someone you can go hide somewhere and just change your outfit into something different. Not sure if you could change clothes like in GTA V, as in you always have them on you and can change outfits whenever, but if not you'll probably be able to store them in your inventory.
You can also wear a mask but that's just additional info.