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You should hire an employee to run the business because you are not allowed to be self employed and if you volunteer, pay no salaries but receive profits it will be a transparent effort to circumvent the restriction on no working in H1b visa. With the employee, then after his salary is paid and there are profits you should be ok.
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You can invest but not work in the business and you can receive your share of the profits. If the GC is doing all the work, I think it better he receive some salary to reflect that effort otherwise you run the risk of a claim that you are really working also.
The key is that you are not actively involved working in the business.