Vanilla Ice -- Theft Conviction Dismissed As Long As He Stays Cool

Vanilla Ice won't serve any jail time for stealing a pool heater and other stuff from a Florida home ... but there are strings attached.

Ice's lawyers, Bradford Cohen and Joe LoRusso, worked some magic and got the prosecutor to agree to dismiss the felony charges, provided the rapper keeps his nose clean for 9 months.

Ice was charged with stealing a bicycle, a pool heater, furniture and other stuff from a home near the house he was renovating. He told cops the stuff was on the curb ... but his foreman ratted him out and told police the stuff was actually inside the house. Oops.

Nonetheless ... Ice was ordered to pay $1,300 in restitution and do 100 hours of community service with Habitat for Humanity. Once he does all of that and 9 months pass, his record is wiped clean.

Anything less than the best is a felony ... unless you have good legal representation.