I have a friend who is a musician and he may purchase a domain name through Bravenet. Can I host his domain name side-by-side using my existing hosting account (since I have plenty of bandwidth)? The two domain names will have different ownerships, and he will have purchased it using a different login & password on Bravenet (than mine).
How would I be able to park his domain name onto my exiting hosting account once he purchases it?

Browser: Chrome

Not sure if can do it this way.

There are several different ways to point a domain at a hosting account. Your friend should follow the instructions given by the company that he buys the domain from.

Hosting somebody elses site is not always a good idea, either you have to do all the work or you give them full access to all your account which leaves it open to abuse.