You could use an IF field to conditionally display content based on a DOCPROPERTY value. For example:
{IF{DOCPROPERTY MyProp}= 1 "Some content" "Some other content"}
However, that content remains within the field unless you unlink it (which you could do with a macro). You should also consider using custom Quick Parts instead of DOCPROPERTY fields and the like.

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Cheers,
Paul Edstein
[Fmr MS MVP - Word]