I am a full-time medical research analyst by trade who is excited to learn as much as possible about real estate investing.

You need to find someone who knows the laws and court procedures where you are -- that's sometimes an attorney, but more frequently someone who specializes in buying properties like this, a wholesaler who focuses on auction buys.

LIABILITY COVERAGESCOVERAGE Premise Liability, LIMIT $500,000COVERAGE Medical Payments to Others - $ 5,000Payment Options:Annual Paid in Full $2,111.52Monthly $ 410.23 down payment with 10 monthly payments of $ 183.50========================================Are these numbers about what you would expect for a (2-unit) duplex?

No , never buy prepaid professional services; accounting, legal, or medical.

The homes could have just been refilled due to circumstances with the old tenants (i.e. financial hardship, divorce, medical issues, etc).

Medical bills, maybe.

I'm appraising a medical office condominium, and the owner's association appears to be undercapitalized... 0.3% of market value.What is the general rule of thumb when analyzing commercial condominiums and the amount of reserves that they should have on hand?

You take pictures, have it repaired, bill the tenant, and follow the lease and your landlord/tenant laws for proper procedures for eviction if they do not pay. 

Check your state landlord tenant laws so you know procedure to enter.Whats your furnace worth,, of course get in and change filters with proper notice.. and anything else 

A few years later, she ran into some medical issues and needed some money.