Are their any logs that we can look at in order to see what APM is doing during its polling process?
There is, but you have to enable it. Here is how
http://knowledgebase.solarwinds.com/kb/questions/2431/How+do+I+turn+on+debugging+%28Monitor+Probe+logging%29+for+Orion+APM+when+requested+by+Technical+Support%3F
Thanks!