Hi Travis,
I joined Traction REIA over the summer. It has both elements. The meetings are divided up into networking, local market updates, and whichever topic of the night is. Usually it is a lead in for a whole day Saturday class that weekend with a guest speaker that you have to pay for. Usually they are not very expensive (~$50). If you are not a member and would like to go to a meeting it is $20. If you sign up for membership they'll credit that $20 towards membership. I pay $200 for the year.
IMHO I would try and network here as best you can first, then try Traction. They definitely have benefits, especially if you have a property to sell they have time devoted to investors looking to sell their properties but unless you're an extremely outgoing person it can be a bit intimidating because so many people go to the meetings.
