Guap usually means a whole lot of money and almost exclusively refers to cash.
Guap can mean actual money in your hand, as in, “He had a guap on him”, or money being earned, i.e. “She’s getting that guap.”
There is not a set amount; unlike “rack”, guap just refers to a lot of money.
It can also be spelled GWAP or GWOP.
Guap was a more regional term, predominantly used on the East Coast to describe large amounts of money earned hustling. On the West Coast, the term KNOT was used more frequently than Guap, but only when speaking about an actual fold of bills.
So, hopefully in 2013, you can get your guap up and do the damn thang!