Came across a best friend on facebook...Now its hell...?

About 5-6 months ago I ran into my friend from high school on Facebook. I knew him back then for about 2 years. Afterwards we never talked anymore lost contact etc. Well to be honest the guy was an in high school yet still my good friend...I'm 28 now and well...the guy has turned even worst become even more ghetto in a way. The first day I hang out out his house one night...get completely drunk and start throwing up in the toilet...next thing you know he takes a picture of me then insults me on his Facebook page saying a whole bunch of stuff..."Haha you praying to the porcelain gods, Thanks for your beer..." etc. Then the next morning as well I wake up to find the stereo was stolen from my car...I just wanted to get the hell out of there ****, i was so PISSED I told his neighbor something cause i parked my car right behind his garage...my friend told me to park there that night as well...Almost makes me think his "gangster" neighbor stole it, guys all tatted and **** lol. Next time I go down there I get drunk again, but still had a chill time, ended having to spend the night though cause was to drunk.Now the 3rd Time I go down there..I go to his concert show at a club..Some big *** thug wants to start a fight with me guys like 6'4 I'm like 5'7..and ends up calling me out outside the club when I'm walking with this girl..and boom next thing you know I'm in a fight and end up with a black eye huge one too..at this point I had had enough. I went home that night just pissed as hell wanted to do something stupid..as would anyone. 2 days later he has more stuff on his Facebook page talking more ****, calling me a BlTCH, his enemy, F-him, making videos from you tube with insults etc..guys basically just seems like a complete piece of crap and moronic poor thug almost. I haven't erased him yet...and still do not know why...possibly cause he was my friend..don't want him to think he pissed me off..I've been ignoring all his texts and phone calls and messages because I honestly do not even care to know this guy any more...even if he was my buddy way back in the day. Should I just erase him and keep ignoring him? I have a bad temper and I know what I'm capable of if I snap..I don't want to let it get this far. Have a good job and am about to get my ociates degree, as well. Please help if some one has ran into a problem like this in the past Thank you so much.