He is saying whatever you consider a hobby, its his passion which would make him better than you at it. More specifically though, Earl is talking about Rap. Rap is Earl’s passion, and he’s better than any other rapper who does it as their “hobby.”
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After the tragic death of his younger brother (at age 14! in an automobile accident) Wacka Flocka decided the best course of action would be to drop out of school and start selling drugs with a burner (a gun)
Burner may also refer to a (tracphone; prepaid cheap phone), which would be used and disposed of to keep off any phone-tapping or tracing of your activity.