How can I manage my business before my I-526 is approved?

Yes, you may hire a manager to run your business since you do not have work authorization. The rental properties you own should not violate the F-1 requirements.

You can run your business through a temporary manager and you do not need an employment authorization document either to hire a manager or own real properties. As to owning real properties, U.S. laws allow foreigners to buy and own real properties. Just ensure you meet the local, state and federal laws applicable where you are buying real properties. Shop around for good candidates to manage the business. Pay attention to hiring a good manager and avoid focusing too much on the costs for such management. The real estate industry has a lot of good real estate management professionals and companies. Your EB-5 immigration attorney should be able to assist with all the nuances relating to your EB-5 investment.

You are correct to understand that you may not work or run your business until you have received your I-526 and/or other visa that allows you to do so. However, as a foreigner you are entitled to own a business, or invest in one. We would recommend that you hire a manager or an agent that can legally work that can run your business pending your approval.

You can't work in the U.S. without authorization, that much is true. Your new commercial enterprise, however, could hire a manager. There is no violation of your F-1 student status as long as you maintain your full-time course load, comply with your Form I-20, and do not work without authorization.

The rental property does not violate your status and yes, you can hire a manager.

In general I would answer yes you can hire a manager and no on the rental properties question but it would be best to review your specific facts before answering.

You can hire a manager to run the company and pay them a salary, or you can (as the owner of the company) manage it, but you may not draw a salary from it. Owning rental properties does not constitute employment.

You may want to consider applying for an E-2 treaty investors visa first, if you are from an eligible country. Owning passive investments does not require work authorization.

While you are waiting for the conditional permanent residency you may hie a manager to direct the EB-5, US business. The same manager may also assist with the day to day activities of the rental business.