The rapper was in a Fayette County courtroom Tuesday facing kidnapping, aggravated assault, aggravated battery and other charges for allegedly holding a groundskeeper on his Georgia estate at gunpoint, forcing him into a guesthouse and pistol-whipping the guy.

Under the deal, Ross pled no contest to 1 felony count of aggravated assault. The other felony charges were dropped. Ross was sentenced to time served in jail -- he had been locked up for a week. He was also ordered to pay a $10,000 fine.

Now here's the sweet part of the deal for Ross. He's being sentenced as a first time felony offender ... that means when he pays the $10k fine -- which he'll do Tuesday night -- the conviction is erased from his record.

But it's not that easy. Prosecutors got more ... Ross pled no contest to 5 misdemeanors -- assault, battery, 2 counts of pointing a pistol at someone, and possession of less than 1 oz of pot. For the 5 misdemeanors he was given a total of 60 months probation.

One huge benefit for Ross ... under the deal, his travel will not be restricted.