Any buds formed will be clearly visible. There are undoubtably photos available online which show exactly what they look like. If the azalea is in its original container, it would benefit from replanting in a slightly larger pot. Controlled release fertilizer is a good option. It can be added at repotting. When you bring it inside, be sure to keep the humidity up by frequent misting, placing it above a tray of water, etc. The adjustment from outside to inside is difficult. The sudden dryness of a house can cause the flower buds to abort.

Make sure it is sitting above the water, like akamainegrower says. It will not tolerate having soil that is constantly wet. You could put pebbles in the tray of water to achieve this.

I thought azaleas were pretty cold hardy but maybe you live somewhere where it's totally freezing.