Can H1B visa holders own rental property? If so, can you self manage or do you have to get a property manager? (House would be bought through personal loan, not an LLC, so wondering whether USCIS could deem self managing as unauthorized employment? How would they find out?)

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They could find out through tax returns etc. But, it is not unauthorized employment - infact it is not even employment.

I would not mess with uscis. Best is to consult an immigration attorney and ask them what to do in terms of an investment property that would be rented out. Or else, if your spouse has an ead then get it on his or her name

You can buy home or rental property with self manage. and can have your own company as well. Complete legal.

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