I have a friend interested in buying or renting my car for one year. I prefer to sell. I want to know if is possible to own a car in Thailand, and getting a Thai driver license, using a passport with tourist visa, and if he will get the necessary  Immigration statement of residence just with a house rental agreement. Also, in case of car rental, if my insurance will pay if another person driving get involved on an accident. At the present he have a driver license from India. Thank you.

A little hard to give definitive answers as different immigration offices and DLTs will have different requirements. As for the insurance, I doubt normal car insurance would cover a commercial "for hire" business. 

Not directly visa related. Moved to the motor forum.

A certificate of residence can be issued, but this will depend on the specific immigration office. When he has that, he can own as many vehicles as he likes.

 

Insurance for a rental car is different (read, more expensive) than a privately used car. Contact your insurance company.