I'm brand new to Bigger Pockets and just recently moved to Los Angeles County.

Deal 2: Duplex (older home that needs TLC in good location)Purchase price: 120k, Rehab 40k, Total all in: 180kExpected Rent: $2,400/month to $2,700/monthDeal 3: 5 Plex (is that even a word?

Brand new to real estate investing - I currently have 1 3/2 ranch in good market  (Greensboro/WS/ Highpoint) used for furnished medium term rentals. 

Delavan has come a LONG way recently and prices are shooting though the roof both for rents and to purchase. 

I seriously looked into purchasing a few years back in Valencia but decided ultimately the US had more potential.

Any amount you purchase less than you sell, or any amount of cash you take out is considered to be profit. 

It could be possible to still negotiate a purchase depending on the stage of foreclosure it is in. 

Meeting its standards makes these loans eligible to be purchased by either Fannie Mae or Freddie Mac. 

I’m interested in purchasing an investment property with equity I’ve developed in my current home, however I’m concerned that if I have an issue renting out the new home it can blow up in my face.

The primary thing you're going to run into is whether or not a lender, at purchase of the property, will allow there to be a secondary lien on the property.