1. What is the minimum server, storage and OS requirement for running ALfresco ?
2. Can Alfresco run in VM ?
Edit by AFaust: Please keep the title short and ask the qestion in the content. That also avoids the awkward encoding of special characters.
Every version of Alfresco have its own supported stack which describes all these details.
You can find the same in below link :
Supported Platforms | Alfresco
Question on "minimum storage" certainly depends on the amount of data you intend to store in Alfresco. There also is a Scalability Blueprint to to help you consider what factors will affect performance.
And of course Alfresco can run on a VM. What kind of professional business software can't? (If you can immediately think of an example, consider if that software should really be called "professional".)