First of all, since you will be starting a new account, even though you would be performing an AOL on an existing line, I am unsure if you would be able to keep the unlimited data. You may be forced onto the Share Everything plan with a new account.

Since you have no/little credit history, you may have to provide a security deposit on your account which would be returned after 1yr of on time payments.

When you perform the AOL, you will have to stop by a Verizon store with your friend to complete the transfer and they should be able to answer your questions.