Hi. I used to be a vet tech for a short while. I'll try to remember what I learned to help you. So here's my two cents.
Contrats on your new family member!! Is she your first kitty? How old is she and how long have you had her?
Prince Vegeta wrote:(1) How much food are they supposed to eat and drink per day? Serena seems to love wet food (fish flavour), but doesn't touch the dry food. She took a few sips of water last night, but I haven't seen her touch the water for hours now. Is that normal? She pooped twice from last night as well (not diarrhea....just solid chunky poops....my apologies for the lack of proper terminology).
As well.....even with the wet food (which is natural max cat brand...i believe), she takes a few bites when I put the food in her bowls and then goes off to lick her self clean. Is that normal?
Cat's can be picky eaters. Some just take a bite here and there yet others will gobble the stuff up. If you just adopted her then she may still be trying to get used to you and her new surroundings and may be a little nervous to eat or drink around anyone. If you leave the food & water out at night then most likely she will eat & drink when she knows that no one is around. If she gets hungry enough then she will definately eat.
We used to get feral cats in our clinic and they wouldn't dare come near the food or water during the day. However when we came in the morning the bowl would be empty.
If she's not eating much then she will have tiny poopies or none at all. But if you DO see poopies (even small ones) then it means she is definately eating something. Now, if you ever see diarrhea or blood in her stool then definately take her to the vet for a checkup because she may have parasites (wormies!).
I think the food you bought for her to eat is perfectly fine. As I said earlier some cats are picky but they will definately eat when they get hungery enough. We usually fed cats about half a cup of wet and half a cup of dry foods mixed together during the morning and repeat it in the evening. Once you get a set feeding schedule then she will get used to it and most likely remind you 'hey it's my dinner time!'.
Prince Vegeta wrote:(2) Also she likes to hide alot....she seems to be sleeping when she hides, but who knows what she does....I don't want to invade her privacy....love her too much to do that
Do cats like hiding or is it because she's shy??
Cats sleep ALOT and I mean ALOT. Don't be to concerned if she is always caught taking a 'cat nap'.
My cat's would always have a large burst of energy early in the morning or late at night when I was trying to sleep, lol. The rest of the time they would be sleeping. Kitties are different, some are lazy others are more active.
She's most likely hiding due to being in a strange environment. It sounds like she has found a nice safe place for sleeping and relaxing but when she starts to become more used to you and the house then she will definately come out more and be more social. In the meantime I would just let her rest (you already stated you were giving her some space which is good). Some cats have an attitude and will come to YOU when they WANT too and not when YOU WANT them too, lol.
Prince Vegeta wrote:(3) Her bottom lip seems to be inflated a bit. Is that an alergic reaction or does she have some sort of gum infection? Please let me know if you guys know anything that can help calm me down
Thanks
If you are concerned about her bottom lip I would definately take her for a checkup at your local vet. If you adopted her from a shelter it's a possibility she didn't get along with another cat there
or may have gotten a booboo before she was put in the shelter or something related.
Animals can have allergies to stuff just like we do but I haven't seen anything other than rashes or bumps on an animal or hair falling out and sore places where they kept scratching to relieve themselves of the iching. Also, if it was a food allergy I would think that maybe she would have sneezing or coughing possibly from the food. Since I can't see her personally I think maybe she just has a booboo on her bottom lip.
Dogs and cats can get tartar built up on their teeth which can cause red and inflammed gums. Again, if you take her for a checkup the vet will fully examine her and let you know how her health is.
I hope I helped you a little.
Don't worry, you will be a great 'parent'. The longer you have her the more BOTH of you will relax and learn from each other.
AGAIN CONGRATS!!
~Sugar
When in doubt, ask your vet! 
Haha! The fecal test would be an extra fee added to the bill for the visit though.