Wow, thanks for everybody's input! Good to know this will work!
"You Can't Take the Fisherman . . ." , thanks for the links. The first one appears to be a bypass for the hot water heater. My toy hauler already has this bypass installed from the factory. The 2nd link appears to be the 2-way valve that I need. However, I get the impression this one needs to be installed next to the water pump (near the inlet) for some reason.
Any reason why a 2-way valve can't be installed inline with the hose right where it exits the freshwater tank? That way you protect the entire hose assembly (from freezing), from the freshwater tank all the way to the water pump.
Can anyone recommend a good 2-way valve? Is there a generic version available at the big box stores?
Thanks!