How can I get logging information on incoming transactions with bitcoind? Im running two Bitcoind Nodes. Is there anyway to log the incoming transactions and the output?
If you run the daemon or the GUI (bitcoin-qt) using the debug=1 argument, then bitcoin will write a variety of events to the debug.log file, including info about transactions received by your node.  

I just ran a test to confirm this. You could follow these steps if you want:

(1) From the terminal window, start bitcoin-qt like this: $bitcoin-qt -debug=1

(2) Navigate to the /.bitcoin folder: $cd .bitcoin

(3) View the last few recent entries into the debug.log file: $tail debug.log

When I did this, I saw the following entry:

2017-11-21 12:58:54 AcceptToMemoryPool: peer=3: accepted 4e1a7429f28c7410e177bf3278aca76b6e32e097ed8d87dbd18980de9c23f343 (poolsz 18765 txn, 94644 kB)


I then copied the transaction ID and cross-referenced it at blockchain.info:

https://blockchain.info/tx/4e1a7429f28c7410e177bf3278aca76b6e32e097ed8d87dbd18980de9c23f343


And as expected, it was there as an Unconfirmed Transaction (which makes sense because the log entry mentions "AcceptToMemoryPool", so it sound like my node received a transaction from a peer, and has decided to put it in the mempool - that's just my guess, maybe I'm wrong)