H1B visa and future business prospects

[tdmine]

I am currently on H1B visa with green card under processing stage.

Recently i received an offer from one of my friend who is an american citizen to invest/pick up 50% stake in his small business company (registered under Inc). After verifying all the details and cosideration, i found the offer very lucrative with great potential for profits and employment for people.

Is it legally ok for me to invest money in business/ venture capital.
what are the possible consequences or effect on my green card processing?

 

[qaz12]

H-1B is an employer specific petition. You are authorized to do - what is specified in your petition and offer letter from the employer. You cannot run your own business. However- can invest in someone else's. You can even work for your friend's company if he files an H-1B for you- either for a part time or a full time position. You can even go for an employment based GC as long as your friend is the authorized person to process the papers and NOT YOU.

 

[CanadaIndianGuy]

how about having Rental income with multiple unit Property??

H-1B is an employer specific petition. You are authorized to do - what is specified in your petition and offer letter from the employer. You cannot run your own business. However- can invest in someone else's. You can even work for your friend's company if he files an H-1B for you- either for a part time or a full time position. You can even go for an employment based GC as long as your friend is the authorized person to process the papers and NOT YOU.

how about having Rental income with multiple unit Property?? I am Not yet able to get clear answers on this. I already Own a Fourplex Property and I stay in One of the Units in it. I pay almost all my mortgage through the Rental income. And eventhough I have rental income, I do Not have any Net savings because of the other maintenance costs. Is this any kind of violations of h1b? As far as Bank is concerned for Mortgage Purpose, this is considered a Residential Property Only. So, this should NOT be considered as another Business income, I guess. Even a famous Lawyer Could not give me any Convincing answers! Only When I ask him about an Option of involving the PMC ( Property Management Company), he told me as the Best Option for me because this will make my investment as a Passive income!! But, I will have to Waste around 200 bucks every month as their Fee, for which they hardly give any service!! Can any Experienced person advise me on this?? Or Is it advisible to contact the Immigration Dept Directly to get an answer? Does anyone have their Phone number ?? Thanks!!!!