There have been a few threads that went into more detail on this in the past few months. do a search since august or so on Wake Forest and you should find a bunch of info.
In terms of walkable distances, there aren't a whole lot of hotels. I think the Days Inn (I think it's a Days Inn) on Miller St. is closest, and is walkable, but might be a tad chilly. The Hawthorne Inn is more downtown but I know has a shuttle running to the hospital b/c that's where frequently family members are put up and it has an affiliation with the medical school. Whenever you call any of the local hotels, mention you are a medical student interviewee b/c they might have special rates.
As for the school, I love it but unfortunately don't have a bunch of time to go into detail. I've written a few things in the past about it so take a look at my old posts and others. If you have questions about specific hotels or anything else a bit more specific, let me know.
