I have a homemade contraption that does not telescope - but it resembles your drawing. I made the "tee" portion to fit inside my loader bucket. I use a double chain to support the boom out in front of the loader, tied back to the loader arms behind the bucket. I think the boom is about 25 feet long. I used 6" I-beam. I've set trusses all over the neighborhood with it. The largest trusses that I've set were 40 feet long on a ten foot wall. The tractor and loader is a narrow front JD 630 with a JD 45 loader. It has 1200 pounds of wheel weights on the rear, but no other ballast. I've never had an exciting moment, but it's level ground only, and slooow and easy. I always have a ground man with a tag line. I have no photos of it, but I could get measurements and pics if wanted.
One thing I don't think you addressed in your post - you need a way to positively tie it down. If you raised the boom too high, it could flip backwards and get you like a big fly swatter. I use a load binder and chain to secure mine down to the loader bucket.
This is a serious issue - someone could get hurt or killed. Always think of the widow. Your friend won't sue you but his widow will.
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Today's Featured Article - Ford Super Dexta - by Anthony West. The rusty blue tractor caught my eye as my truck zipped by the farm implement business. It looked so fornlorn amongst the lineup of newer equipment. But it was just the right size for my small farm. I stopped in and asked the proprietor for further information. "It's a 64 Ford Super Dexta", he said. "It's a tough little tractor, although it's a hard starter being a diesel and all." He did manage to get it running, compliments of a can of ether. Once started it putted along pretty good. It
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