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Usually there's an administrative fee you have to pay to the manufacturer in order for them to transfer the warranty from the original owner to the new owner. Otherwise, if the bike is registered in your name but the warranty is still registered to the original owner, any warranty claims you try to make will not be honored.
The only thing I'll add on top of what's already been mentioned is also do the normal walk around checks on the bike that I'm sure you were taught in your MSF course. That means checks for the horn, all lights, throttle play and signals, front and back suspension test, etc.. Check the chain slack and make sure it's not too tight or too loose and that it's been well lubed. A dry chain usually means a careless owner. Check the chain when bike is off just for safety. Also squeeze both the front and back brakes and check the brake lines and seals for any leaks or bulges. Check that the choke operation works and the idle speed of the bike when warm should be around 1250 rpm. As for tire wear, check the pattern of the wear. If it's only down the middle of the tires than that means the bike has been used normally. If there's a lot of wear on the edges of the tires, that could mean that the bike was raced.
As always, make sure you check out bikes during the daytime when there's good sunlight. It's a good idea to bring a small flashlight so you can get a better peek inside the nooks and crannies of the bike where natural light doesn't normally reach. That's most of the visual checks I can think of right now but don't forget to use your other senses, meaning hearing and feel. Listen for any weird sounds, ticking etc. If it doesn't sound right or feel right, don't be afraid to walk away.
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