Can I start my own business while on H1?

Hello I am on my 1st year on H1B. I have read in different blogs that I can invest in any venture as long as I remain as passive investor. My intentio is to parter with a GC holder (friend) go 50 50 and purchase some equipment that the company will be leasing. I will simply participarte signing the paperwork to put together the pertnership and after that will only remain as passive investor will not collect dividend since all Net income will remain as reatined earning for the first years until I obtain GC.

I currently have an investment property where I simply collect rent through my Property management company so I do not activelly do work on the house.

If I start this new venture will you all think I might have trouble in the future once I star my application under EB3? What do you all think.

By no means I intent to violate my status nor put in danger my future GC application process. I understand I should talk to an experience Attorney and I will, but I am sure there are more H1B Holders that want to start a new venture on their own and create jobs in this country rather that work for somebody.

Please advise based on solid evidence and past experience. Is anybody out there under H1B and business owner???

Thank you!

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I do know that one of my friends holds about 37% stake in a company on H1B. He co-founded company with a US citizen. He works full time for another company that sponsored his H1B. He is only an investor and stake holder in the company he founded, but does not work for the company he founded by any means. I do not know all the intricacies of the law, he works closely with an attorney to have everything done legally without viloating any terms. These are sensitive issues and an experienced attorney would be the best person to advise.