Eli vs. Envy Freestyle Eli
Eli is saying he is not surprised Envy came out to participate in their rap battle, because he has already supposedly announced he is homosexual - that he previously came out (what gay people call it when they reveal they are homosexual) for a gay parade
24, 23 (Kobe, Lebron) Thug Motivation 103 Young Jeezy
self-explanatory. his rolex watch is so expensive he said it should come with an alarm (to protect it)
If I Can't Get Rich or Die Tryin' 50 Cent
It is a nice feeling to be able to withdraw $50,000 from the bank and not be concerned with the remaining balance or how it will effect one's financial situation because there is much more where it came from.
Fly In Tha Carter II Lil Wayne
This could also be a reference to the fact that Lil' Wayne represents the Bloods gang, which are affiliated with the color red; their rival gang, the Crips, are affiliated with the color blue. Hence, the "blue" rivals he/his gang kills would be "ghosts."
The Potion The Red Light District Ludacris
Fresh refers to how clean and like-new your clothes are, so hes saying he is good at keeping up on his outward cleanly appearance
Nuthin' But A G Thang The Chronic Dr. Dre
boxer Evander Holyfield's nickname was "Real Deal Holyfield"...he is saying that he is even realer (more honest and tells it how it is) than that