I keep a big gun for conflict in my hometown.

I shoot them up with my Thompson submachine gun. Who I shot cries before he takes his last breath.
Fo-fever is slang for .45 caliber. The “fever” makes people sick or die. .45 is the main caliber of Thompsons, a gun made famous by Prohibition gangsters.

I’m going to take you on a musical trip to the place where dope is sold and your car will be jacked and you murdered.

Dope track — street or area where illegal drugs are sold. Equivalent to trap or strip. Comes from the pimp word, track, which was a street where prostitutes sell sex. It’s an adaptation from racetrack where horses are raced to get the most money.

My drug selling is advanced above my competitors. I as an independent was able to compete with major label rappers.

I’m very happy because my independent label “So Icey Entertainment” now is in business with the major label “Atlantic”.

I started out “minor league”(on a independent record label) now I’ve increased my status to being “major league”(on a major record label).
Baseball reference — minor league is a league that prepares players for the higher competition in the major league.

No matter what situation I’m in, I will always hustle.

I chose to be involved in criminal life at young age and didn’t listen to my family trying to guide me.

I carry big guns like a military ship.

Possible double or triple entendres here. Ask Gucci when you see him.
“Scrap” means “strapped” because Atlanta natives often pronounce “t” sounds as “c”. For example, they will pronounce “street” as skreet.
Not only does the navy have big guns, the navy is also known to scrap(tear apart and recycle) old ships that can’t be used anymore.
Scrap also means to fight so he could be saying he fights like the navy.