Once rehabbed, what disclosures would I have to make if I were to sell it as a flip?

I suspect you may have issues selling, but there's a price for everything.

We have had so many situations with people trying to sell vacant land they don't own, that our MLS put out a warning about it for all agents. 

Fix n flip loans for value add, then sell or refinance into DSCR. 

You correctly identified that you have a $2,000 profit from one property and a $4,000 loss from the other. 

I don’t want to sell the house because i like the area, in fact i want to purchase more homes to flip or rent out in the area, but i need to free up some capital.

It’s such a silly thing to say the seller pays anything when they sell their home. 

For starters, I recommend that you identify your investment strategy, choose a market that aligns with it, and establish your Core 4.The main challenge I observed is that individuals often lack a clear end goal or strategy, or they select a market that doesn't align with their chosen strategy.

BTW, I just got preapproved for a 2-4 unit fixer property using a FHA 203k loan up to $1M so let me know if anyone has anything in Los Angeles they're trying to sell!

However, recently a good friend of mine from church (who happens to have an extensive experience in RE) offered me to partner up to help me start and without me having to put any money, just asked me to contribute to him by finding a low cost deal, help with the process and he promised me to split profits equally if either selling or holding.