I'm currently on an H1B Visa. I'm hoping to start investing in real-estate with my friend who is a green card holder.
Currently, we are planning to get a house on our name and then we ll rent it out.
We also thought about owning it first on our name and then transfer it on LLC name which we plan to form later on.
However, my status as an H1B holder does complicate things. I've done a lot of reading and have found that I am only allowed to passively invest in an LLC (even if it's my own). However, the definition of "passive" escapes me and there seems to be no concrete definition.
I do not want to risk my status or possibility of delaying my green card application.
What ll be the best way to invest in real estate with partner being an H1-B holder ?
Any help/suggestions will be appreciated!
Thanks in Advance!!!!