I'm familiar with InDesign, but haven't used it in well over a year. I have a pdf of a sponsorship packet that someone else created, but I need to edit the text. JUST the text, I might have to move the text boxes around to get it proportionate to what I'm adding.
Would it be best to do this in InDesign, or what version of adobe should I be using?
InDesign won't edit a PDF. You could try Illustrator, but it's not intended to edit PDFs created by other programs, so your results will vary, and if you don't have the fonts, you will need to find them or find substitutes. Also, blocks of text may be broken into bits that can break in the middle of a word, so it's really a last resort. If you can get what ever file was used to create the PDF, that would be the best way to go.
Best practice is that you get the InDesign files from him, and you edit it with the same version of InDesign. If it was created by, for example CS3 and you have the latest version, there might be some text flow that changes because the text engine is updated from time to time, but it's just something to look out for and not something that will kill the job. You will need him to package the file and send you the images and fonts, although legally you would need to own your own versions of the fonts (or buy copies). I'm not saying that people don't share fonts witout buying them, but it's not allowed in the EULA of most fonts that are for sale. Just saying.