A stand-alone DVD burner creates a DVD pretty close to a commercially available Hollywood flick. There will be a Video_TS folder, just like on commercially purchased movies. There are many software available that will let you import it to your computer to do some editing, but you'll be losing generations. (I know it's digital, but you're still losing generations, especially if you convert it to a quicktime or something.) For any editing you might want to do the best choice is to record directly to a computer. But since you're doing it at someone else's house a stand-alone recorder is probably the best choice.
If you really wanted to spend money they do make DVD recorders with hard-drives on them. Those let you record to the hard-drive, do some basic editing, then put out to DVD.