Its a rude saying.  A pimp is a man who sells prostitutes on the street. He is in charge of making their schedule and then after they work they give him all the money and he gives them enough to live.   A paradise for a pimp might be a place where there is a lot of money or lots of women??? If you heard it in a song then it's possible that pimp " in the rap world"  means a really awesome guy. But only in rap music. Every other time you hear it, it means a man that works with prostitutes.   Hope this helps.