Is there a way to hide a textbox if it is left blank, without having to place
it in it's own section (which creates spacing hassles)?

And is there a way to hide the placeholder in an unused field when emailing
the form?

If I just set the Conditional formatiing to hide the field if it's blank,
then it never shows up at all. I have solved it by setting the conditional
formatiing to hide the box if it has a single space in it and then putting a
note via the placeholder to say "If this field is unused, hit spacebar once."
This works, but I was wondering if there was a better way to do this.

I am using it in an address block.
  Company
  Address 1
  Address 2
  City State ZIP
If the Address 2 field isn't used, then that field is hidden.