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So I'm curious as to what a K20/K24 is. I get it's an engine comprised of two different engine pieces but what does it really do? Why does this combination give more horsepower naturally from the engine?

There are people getting 270 - 300 hp from this which is something I'd love but hey who wouldn't.

Any info is appreciated!

 
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270-300hp is not a straight stock k20/k24, to achieve 300hp would require both modifications and tuning.

The basic idea and reason behind it though is to combine the displacement of a cheap CRV/Element/Accord k24 engine with the performance head off a RSX or Civic Si. It's a more affordable and available alternative to a k24a2 TL Type-S engine.

 
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The Frankenstein? The theory behind it is not to actually increase horsepower but to increase torque. I think a frank with no mods done to it still only produces around 200 horsepower. A k24 block produces more torque than a k20 block does, but a K20 head is far more aggressive than a k24 head. So your kind of taking the better of both worlds and combining them together to produce an engine with lots of horsepower, and higher torque.

Honda has basically done this with the 2012 Si. They put a k24 in with an aggressive head, have a look at the numbers it puts out and you will get a fairly accurate idea of what a frank puts out.