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I licensed a stock image from Adobe Stock Images which included text that read "Your Text Here." But the download file (jpeg and ai) did not include a text layer. Any help on how to make the text editable would be appreciated. Note, I'm pretty good with Photoshop but I'm a complete newbie on Illustrator.
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The text most likely has been outlined.
You can try if the Retype feature can recognize the font and then you can un-outline the text and then later edit it. But that's about it. Basically you create a new text object and type your text.
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For what it's worth, the "Brand Name, Tagline" text looks like it was set in a bold variant of Century or Century Schoolbook. The slab serif typeface used on the small Lorem ipsum text in the next slide is Rockwell. The "Your Text Here" lettering is set in Poor Richard (not kerned very well either). The remaining text on the right end of the image looks like a mix of Century and Times.
If you have access to those typefaces you can replace the outlined text and keep the text styling of the layout pretty much intact. But it probably won't hurt anything to find typefaces that look similar enough. There's lots to choose from via Adobe Fonts.