We didn't really have credit card or student loan debt or anything like what most of his listeners have.  

Would it then be against IRA rules to hold the debt or equity of said company in my IRA?

So... is it a good idea to use the IRA money to pay debt?

There is plenty of opportunity in an up or down market and arguments on both sides of the coin for debt or cash investors. 

Is that student loan debt or mortgage debt?

Both the variable nature of that loan and the larger interest rate make it a solid target for additional payments.So back to your question... pay off debt or keep debt and invest...Here's the question... do you want to HAVE to keep working but be able to retire earlier or would you like to be able to walk away from everything and live a humble life at ANY point? 

Texas may be the most friendly debtor state in the Union.  

As rent and deposit is paid in advance, it is not a debt.However, if a tenant is behind in rent, owes damages, or becomes indebted to you in any way, you become legally obligated to accept payment in cash form to satisfy any debt.Refusal to accept cash (even 500lbs of nickels) can result in a debt forgiveness judgement in favor of the debtor.

Whether or not to use debt or how much is a safe amount boils down to risk tolerance.

Automatic Rejection: Your application will be automatically rejected for any of the following:a) Eviction by a prior landlord in the last 24 months;b) Outstanding debt or unpaid damages to a previous landlord;c) Undisclosed criminal record, felony or misdemeanor;d) Being registered as a sex offender;e) Conviction of possession or distribution of a controlled substance;f) Conviction of spousal abuse or violent crime;g) Currently pending the outcome of a felony or misdemeanor charge;h) Bankruptcy in the past 5 years that has not been discharged/released;i) Invalid social security number;j) Outstanding federal tax lien, the repayment terms for which are not current;k) False information on your application;l) Incomplete application, including applicant signature on all pages of the application and this form;m) Failure to pay the application fee at the time of application submittal.