The partnership agreement (which may be part of the package referred to as a PPM) is where the details are specified about the rights and responsibilities of the GP and the LP.You mentioned the example regarding new debt. 

Pleasant to deal with and offer competitive rates/loan packages.

On the North end people don't even want to come to do repairs and no one is willing to manage it, cause it is supposedly the wild west, though I haven't encountered any problems there yet (knock on wood). 

Quick approvals with no seller underwriting package required!

Yes, I do look at marketing packages to try to get more accurate numbers.

My agent advised me that the packages offered with 20% down yielded little in the way of reducing my APR.

The only issue you may encounter is that some lenders will want you to own your primary residence before lending on a rental property. 

One of the good things i will say about FB is that they package the information in a way that is straight forward and that you can find easily. 

Has any one encountered this kind of situation?

Sounds like they are going to try to sell you a larger package during that three day course.