2) Can the dependent child of the principal applicant file the I-526 petition and then apply for the F-1 visa?

Great question. We are getting this question a lot, especially from investors who have kids born in visa retrogression countries. Their kids are not ready to apply for the F-1 visa yet because they are still in high school in their home country. Therefore, they ask us whether, to gain time, they should go ahead and file for the EB-5 anyway and apply for the F-1 when their kids are ready to go to college. The short answer is that on a practical level, this is fine, although F-1 is not an immigrant intent visa while EB-5 is an immigrant intent petition. One could have a long-term goal of immigrant intent with a short-term goal of not an immigrant one. There is a small risk of denial, of the F-1 visa, due to the conflict between these two intents. The parent filing with the kid, as the dependent, is a much better case pattern. The one who has declared their immigrant intent becomes the parent rather than the derivative applicant, the child. In this latter case, this becomes a disclosure item when filing for the F-1 visa.