L1 points per victory, corresponding to the division of the team you beat.
L2 points per victory of the teams you beat, corresponding to the division of the team they beat.
While it is valuable to beat teams who are in higher divisions for more L1 points, it is a bad trade-off if those teams do not win many games. Conversely, if you beat a team in a lower division that wins a lot of games, you'll get more L2 points that likely make up for the L1 point differential. But it's not that easy... Typically larger schools play other larger schools, while smaller schools play other smaller schools; so chances are good those L2 points you're getting by beating a good, smaller school are for wins against other small schools, so you would need fewer wins by a larger school to make up for it. There is no correct answer, but I'd always just try to err on the side of scheduling teams who will win games. You don't want to be in the boat of the two undefeated teams this year who missed the playoffs.
The only exception would be your famous "Harbin Cow" such as Timken. A very large school (D2-ish) that will get 2-4 wins against other D2-ish schools, but everybody in the conference will beat them, hence good L1 points and not-so-bad L2 points.