The Text and Image component is a great component to use when you want to wrap text around an image. However, there may be times where you receive the text content first, but not the image. If you need to publish the content before receiving the image, you can do the following.
Add you content to the Text and Image Component. Notice that if you leave this content as is, a space is created in front of the text.
In the Advanced Image Properties tab in the dialogue box, change the Image position from "Image Left" to "Image Right."
You can activate the content as is with out the image. The "image placeholder" space will be covertly hidden.
You can add your image at any time and activate the page. Depending on your preference, you may want to change the position of the image back to the left, or keep it to the right, as seen in this picture.
A word of caution...
Sometimes, you may have to re-work the first couple lines of your content in order for this trick to work. As seen this image, the "image placeholder" space is not as covertly hidden.
Adding some title or heading text to the content can resolve this issue.